DeFuniak Springs January 2008

Market update for DeFuniak Springs for January 2008. As of now there are 23 homes pending. In January there were 13 homes sold with an average sales price of $122,000. This brings the "average sales price" to its lowest point in over 3 years. We have over one year in inventory with nearly 350 homes on the market. I would say that DeFuniak Springs is feeling the "shift". I am finding that seller confidence is shaky, but optimistic; while buyer confidence is still guarded. In my opinion, we are still 7-12% overpriced generally speaking, but there are some good properties on the market. That being said, if you are a buyer in this market and you find a home that you want to make an offer on, go ahead and make the offer at 7-12% below list price. This will allow you to get the better equipped home without paying too much (and also cuts the risk of the home selling to someone else before pricing bottoms out).