2007 3rd Quarter North Georgia Mountain Residential Market Reports
November 21st, 2007Categories: North Georgia Market reVIEWS, North Georgia Real Estate VIEWS
Here on The Front Porch View I want to be able to provide you with all of the information that you need to make a very good and well educated decision when buying or selling North Georgia Mountain Property. If I have not included a North Georgia Mountain county that you would like to know more about and what the real estate market is doing in that area, please contact me and I will be more than happy to obtain that data for you.
The number of listings have slowly been on the rise for all three counties that I have re-VIEWed. Fannin county listings have climbed higher than both Gilmer and Union counties.
Gilmer county has been having a better quarter than both Fannin and Union county in home sales. September had more sells in both Gilmer and Union counties while August was a better month for Fannin county.
As far as the average Days On Market (DOM), Gilmer and Union were very similar, however Fannin county was almost opposite. Fannin counties DOM started out higher then dropped below both Gilmer and Union county while they where on the rise in August. Fannin county climbed back to the highest of the three counties in September for DOM. It is very important to Price Your Home Correctly in order to keep your DOM below the markets average.
In re-VIEW of the report below, Fannin county has seen a significant increase in the average sales price of the homes being sold. Union county on the other hand had a slight increase for the month of August, but then began decreasing back close to $200,000. Gilmer county did not experience much change, but did have an insignificant steady increase in average sales price.
If you re-VIEW the report below, you will find that Fannin county maintains the highest Median Price of the homes sold in the counties that I have reported on in the North Georgia Mountain area. Although the median price went down in August, it did climb back to just above $250,000. Both Gilmer and Union county have been experiencing a decline in their median price.
This last report re-VIEWS the price differential of the three counties. The price differential is the difference of the price the home sold for, compared to what it was listed for. This gives home buyers and real estate agents a better idea of what to expect when making an offer on and pricing property. For the first time in several years, I am seeing that the list to sell price is dropping at or near the low 90% range. While all three counties have experienced a steady decrease in price differential, Gilmer county has sustained the highest list to sell percentage.
All of these reports point to the fact that we are in a Buyer’s Market. Listings are on the rise, median prices for the most part are decreasing, DOM are on the rise and the average sell price is declining. If you have ever thought about purchasing a cabin in the North Georgia Mountains, now is the time. If you have any questions about the market or any property in the Blue Ridge, Blairsville or Ellijay area, please contact me. Also please remember, if you have any friends or family that might also be looking for a second home get-a-way, or an incredible investment opportunity, I am never too busy for your referrals. I would appreciate you keeping me in mind.
7 Comments »
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Mr. Front Porch, great looking charts and way of presenting information for your readers, very impressed!
Comment by Hilary Shantz — November 22, 2007 #
Chad - Wow that is some report - your are definitely the North Georgia Mountain Real Estate expert. This is great information for local home buyers and home sellers. - Cyndee Haydon
Comment by Clearwater Beach Condos — November 22, 2007 #
Chad,
Graphs and charts make it so much easier to relate your north Georgia mountains real estate information to your readers. Clear and easily understood statistics in your post.
Comment by Charles Woodall, Dothanhomesearch.com — November 23, 2007 #
Dear Chad,
I specialize in North Georgia Mountain Real Estate as well- but a little further East of your”neck of the woods.
White and Habersham Counties - Alpine Helen, Sautee-Nacoochee, Cleveland, Clarkesville, Demorest, Batesville, Mt. Airy, Demorest and surrounding towns, to be a little more precise.
Our market reflects just excatly what you published and charted- that it’s a GREAT time to buy in the North Georgia Mountains.
As a matter of fact, our part of paradise was just featuted in the New York Times - in the Havens Travel Section by writer Joseph Samuel Starnes:
Here’s the link:
http://www.nytimes.com/2007/11/23/travel/escapes/23havens.html?_r=1&oref=slogin
So thanks for taking the time to tell the folks about our Buyer’s Market conditions- and realize that now is the time to invest in the glorious North Georgia Mountains!
Glad I found your Blog-and I hope you and I can do some referral business together!
Comment by Harriet Carter, Realtor — November 23, 2007 #
Chad - Love the chart and detail - I’m sure the folks in the North Georgia Mountains like the simplicity of the information.
Comment by Paula, Indianapolis Real Estate — November 24, 2007 #
Great market data and information for buyers and sellers in the North Georgia Mountain area.Looks like now is the time for FLoridians to head for the hills of North Georgia to buy a second home!!
Comment by Port Orange Juice — November 24, 2007 #
Chad this market report is just great! I love the graphs as it makes it easy to see at a glance what is happening. Good information for anyone thinking of buying or selling in the North Georgia Mountain area. - Ashley
Comment by Albuquerque NM Real Estate — November 26, 2007 #