Decipher Villa Rica’s Housing Market: Trends and Top Picks

A Look at the Market

Villa Rica has been a booming town with homes for sale increasing for the past few years, but what about lately? I have been able to see living in Villa Rica through the lens of several different clients of mine. Some see moving to Villa Rica as a positive, while I have also had several clients who are wanting to live anywhere other than Villa Rica. Is this causing more homes to come on the market for sale in Villa Rica or are we seeing the homes for sale in Villa Rica increasing without any movement? I will dig into this more below as well as show you my pick of the most desirable homes for sale in Villa Rica right now.

The number of homes for sale in Villa Rica is down to the lowest number we have seen in a year, with the exception of in November 2023. Check out the graph below to see exactly where we ended January at. Only 41 homes sold in Villa Rica in January vs 56 homes that sold in December. Historically we see the lowest number of sold homes during the holidays. If we look at the background information that it takes roughly 30 days to get a home closed, this graph makes sense given that most of the homes sold in January would have been found and gotten under contract in December during the holiday time! The first couple of months of the year are always slower, and our data backs this up since we have not seen a huge increase yet in February.

Market Value

However, if you are looking to buy a home in Villa Rica, now may be the time for you! We are seeing more negotiations and sellers are willing to give more seller concessions (like closing costs) for their buyers. In January we saw an almost $10,000 drop in the asking price vs what they ended up paying for the home. This means that sellers are more willing to negotiate than they were before.

Do you remember 2 years ago when sellers would laugh at the thought of giving any closing costs? We saw big negotiations the past couple of months and we are already seeing some big negotiations in February as well. I just recently got my buyers $12,000 in closing costs! Obviously, all the data is not in since the month is not over yet, but we can already see how much less the homes are selling for this month.

Strategy

One of my clients had her home in Villa Rica for sale during the first of the summer. I priced it according to the comparables and after about a month of marketing the home we got it under contract. We made it through all of the steps, including the home appraising at the price we had it under contract for. But after extending the contract a couple of times, the buyer ends up not being able to financially afford the home. We were obviously upset (my client was buying another one that they loved) and we had to terminate the sale.

A little over 2 weeks later we place the home back on the market and we get NO activity. We start looking at what the surrounding homes are selling for, mind you this is a little under 3 months after the first time we listed the home, and we see the sales price has gone down. We start dropping our price to try and catch up with the market. Finally, 6 months after we had initially listed the home, we were finally able to close on the home. It was very shocking to us to see how the housing market had changed in just 6 months! Interest rates were still increasing through the summer and fall and this definitely shifted the market. The good news is that rates have come down slightly, so I do see the homes in Villa Rica that are for sale trending back up.

Days on the Market

If you look at this next graph you will see the median days on the market is going up too. What exactly does this mean though? This means that the homes that are for sale in Villa Rica, are taking longer to sell than they were previously. The February data is significantly higher than any other month. If we have some sales to end the month, it can help even out February, but for right now homes are taking longer to sell. 

If you are thinking of buying a home in Villa Rica, now may be a great time. The interest rates are slightly lower and inventory is taking a little longer to sell. Here are my current top picks of the most desirable homes for sale in Villa Rica right now.