Floyd County Commercial Real Estate Market Update Insights from the Latest Area Market Survey
Insights from the Latest Area Market Survey
If you’re interested in Rome commercial real estate or the broader Floyd County market, it’s important to stay current on recent data and trends. Below is an overview of the most recent Area Market Survey, which sheds light on active listings, sold properties, pending deals, and expired listings in the local commercial sector. Here’s what the numbers reveal:
Active Listings
There are 36 active commercial listings in Floyd County, with an average price of $1,294,297 and a median price of $651,950. The highest asking price currently reaches $8,900,000, while the most affordable commercial offering is listed at $120,000. These listings average 203 days on market (DOM), indicating a moderate sales cycle. A total listing volume of $46,594,699 underscores the scale of opportunities for investors and business owners looking to establish a presence in this region.
Key Takeaway
Wide Price Range: Properties span from just over $100,000 to multi-million-dollar offerings, catering to diverse investor needs—from smaller local businesses to larger corporate expansions.
Sold Listings
Over the survey period, 9 properties sold, reflecting an average DOM of 111 days. The average sales price stood at $536,033, with a total volume of $4,824,300. Although these sales range widely in price, the median sold price was $358,000—showing that midsized commercial deals are actively moving in this market.
Key Takeaway
Balanced Demand: A decent spread of final sale prices suggests that everything from smaller commercial spaces to more substantial properties can find the right buyer with strategic pricing and effective marketing.
Under Contract (Pending)
5 listings are currently under contract, indicating buyers are stepping in when they spot value. The total volume of under-contract properties is $2,131,500, with an average DOM of 286 days. While that DOM is relatively high, it can reflect the unique complexities and negotiation periods typical of commercial transactions—especially when it comes to larger or more specialized properties.
Key Takeaway
Longer Negotiation Periods: Commercial deals often require thorough due diligence, which can extend time-to-close. Despite longer DOM figures, properties are moving toward finalization.
Expired Listings
The survey also highlights 23 expired listings with an average DOM of 257 days. These listings collectively represent $13,638,500 in potential value that, for various reasons—such as pricing, property condition, or changes in seller expectations—did not close within the listing period.
Key Takeaway
Revisiting Strategy: Sellers with expired listings may need to reconsider pricing, marketing tactics, or property improvements to successfully re-list and close in the future.
Market Outlook
Overall, the latest data from Floyd County’s commercial real estate scene shows a broad spectrum of opportunities for buyers and investors. Properties with realistic pricing and clear value propositions are attracting interest. At the same time, sellers may need to be mindful of local market conditions, typical closing timelines, and how to best position their assets to stand out.
Considering Your Next Move?
Whether you’re looking to purchase a smaller retail space in Downtown Rome or expand into a larger industrial or office setting, staying informed on pricing trends and DOM is essential. Analyzing factors like property type, location, and the broader economic outlook can help determine a successful real estate strategy in Floyd County.
If you have questions or need tailored advice on navigating Floyd County’s commercial real estate market, Insight Commercial Group at Realty One Group Edge is here to help. Our team combines local market expertise with legal savvy to guide clients through every phase of a commercial transaction.
Contact us today to learn more about the opportunities in Floyd County and discover how we can help you make the most of your commercial real estate goals.
