Median Sales Prices for Homes Sold in Blairsville was down 23% from April 2009, and it was also down 9% from March of this year. The Median Price of Homes For Sale in Blairsville, GA. is also down 5% , from $209,000 to $199,000.

Sales were down in April from 31 in March, to only 18 in April. That is a change of 42%. Of those 18 Homes Sold in Blairsville, 39% of them were Foreclosures.  There were 21 Homes Sold in Union County in April 2009. Our Northeast Georgia MLS system is not set-up to accurately report the number of Short Sales that occurred within those sales.

There is Good News for May however. The number of Pending Sales in Union County was up 45% in April. These are properties that are currently under contract but have not closed. Typically, these properties close between 30 – 45 days. Looking back on Pending Sales in March, there were also 32 Homes Under Contract in Blairsville as in April. That means that either half of those deals fell through, or it is indeed taking a little longer with the New Changes to the Real Estate Settlement Procedures Act (RESPA) to close the transaction.

The number of New Properties For Sale in Blairsville climbed a little in March, but fell again in April. Overall, our inventory is slowly coming down bringing back into align the law of economics…Supply and Demand. We have gone from 860 Homes for Sale in Blairsville in April of 2009, to 711 available on the market in April of 2010. That is a change of 17% year over year.

The Average Days on Market (DOM) spiked 51% in the month of April to 170 days, up from 112. However with inventory coming down, and sales holding somewhat with a very slow and steady climb, our Absorption Rate is coming down. Our Month Supply of Inventory (MSI) is down 44%.

Should you have any questions or concerns with anything that you see in this report, please Contact Me. You may also call me at 706.994.8686, I will be more than happy to answer any question or concern that you may have. If I can assist you or anyone you may know that is looking to purchase a Home For Sale in Blairsville, GA., or anywhere here in the North Georgia Mountains, I would be grateful for the opportunity.

It appears that there is some positive news coming out of Fannin County, at least compared to the previous months. Vacant Lots For Sale in Blue Ridge, GA. is up 83% from March 2009. The Median Sales Price has risen %2,500, or 4% to $61,000 compared to $58,500 from a year ago. This is due in part to the Average Median For Sale Price coming down almost $10,000 for a 14% change from March 2009.

April is promising to be a fantastic month as the number of Vacant Lots Under Contract in Fannin County is up an amazing 180%.  Although that is only a change of 9, up to 14 from 5, but it is still great news for North Georgia Mountain developments that have been sitting idle for for the most part experiencing very few sales. Many of our Mountain Communities are not doing well at all, and several of our developers are struggling to keep their investments out of Foreclosure. Many are realizing  with the massive reductions in Property Values due to the Real Estate and Mortgage Crisis, the carrying costs added to the initial investments of these developments far exceed the 5 to 10 year projections of Market Value. This makes it very tough for them to hang on, both mentally and physically.

However Inventory is coming down shedding some more good news. The number of New Properties that have entered the market is down 29%, and the number of Total Vacant Lots For Sale In Blue Ridge Georgia is down 26%. The Average Days on Market (DOM) shot up a little in March, up 31% to 231 Days. This is the average time it takes a Real Estate Professional to Market and and Sell a Vacant Lot in Fannin County. AS you might have guessed, with the decrease in the amount of Properties For Sale in Blue Ridge, GA. and a slight increase in sales, the Month Supply of Inventory is also way down, 74.5% to only 72 months.

If you have any questions or concerns, or if you would like any additional information that I have not provided in this Real Estate Market Report, please Contact Me or give me a call at 706.994.8686. I appreciate you stopping by “The Porch,” and please know that you are welcome back anytime.

Make it a GREAT weekend!

The Median SOLD Price for Homes Sold In Fannin County was down 1% or $1,500 from April of 2009. January of 2010 was a great month for Median Sold Prices, it spiked to nearly $250,000. Not much change for the Median Price on Homes For Sale In Blue Ridge. The Median Price For Sale was down 4% or $11.500.  There was only 1 less Home Sold in March of 2010 over a year ago which had a total of 27 units, this was a change of 4%.

The GREAT News is that the number of properties that have gone under contract during the Month of March, but have not yet closed is up a staggering 105%!  There are currently 41 Homes Under Contract in Blue Ridge, GA., a change of 21 from a year ago. This is promising news that sheds some light on what the economists that I have heard have been saying.  The consensus is that we have a lot of Buyers with money in their pockets  just waiting on Spring and beautiful weather. It is a gorgeous Spring Day, boy do I hope they are right!

The number of Newly Listed Homes in Fannin County is down 5%, and the Total number of Properties that are being offered For Sale is down 13%, a drop of 137 units. The number of Expired Listings, listings that were not renewed or that is not currently back on the market was also down by 7 units for a Total of a 7% change. The Supply and Demand Graph within this Residential Market Report really paints the picture of what we have been seeing here in the North Georgia Mountain Real Estate Market.

Some more good news is that the number of Days On Market (DOM) is down 21% to 122 Days. This is basically saying that of the Homes Sold In Blue Ridge, GA., they were only on the Market for a total of 122 Days before going under contract to be purchased.  Also because of the number of  Homes For Sale in Blue Ridge Georgia being down and the number of units that were Sold being up, the Months Supply of Inventory is down 59% to only 18 and a half months.

If you have any questions or concerns about anything that you have seen or read within this North Georgia Real Estate Market Report, please feel free to Contact Me, or simply pick up the phone and give me a call now at 706.994.8686. Thank You so much for visiting me on “The Porch.” Please come back and visit as often as you like, you are always welcome.

Make it a AWESOME day!

If there is any good news at all concerning the Union County Lots and Acreage Real Estate Market, it is that inventory is down. The number of new properties listed by month is down a staggering 90%, a change of 192 fewer listings from this time last year.  The total number of Properties For Sale in Blairsville is down 12%, a change of 219.

If that wasn’t enough good news, then how about the fact that the Median Sold Price by month was up as well, 16% with an average increase of $4,500. Not much, not near enough, but none the less a positive increase. The number of units sold however was down 38%, a decrease of 5 from February of last year. Also, the number of units that went under contract was down 29%, but only a decrease of 2 properties.

The average Days On Market (DOM) continues to increase, up 17% to 240 days. That also causes the Absorption Rate to increase as well. The average Month Supply of Inventory is up 21% to an incredible 299 months supply of Vacant Lots For Sale in Blairsville, GA. Let me do the math for you. That means that at current market conditions, and taking into consideration that we do not have any additional lots enter the Union County Real Estate Market, it would take almost 25 years to deplete our inventory. Wow! I have a funny feeling that these Bank Closures might cause this time frame to speed up just a little. What do you think?

Other Related Articles You May Find Of Interest:

March 2010 Union County Residential Real Estate Market Report

As you can see from the above report, the Median Sales Price for Homes Sold in Blairsville, GA. continues to fall. There was a change of $21,525, down 14% from February of 2009. This is due mostly in part to the Short Sales and Foreclosures that continue to plague both our Residential Market, and even more so our Vacant Lots and Acreage Market. I will be sharing that report in a later post.

The good news is because of the amount of Short Sales and Foreclosures, the number of units SOLD is up 18%. Only a change of 3, but 18% sounds so much better. There was no change this month over a year ago for number of properties that went under contract. The number of homes under contract year over year in February was 20.

The number of new homes being listed in Union County is down 31%. We had 27 fewer residential listings hit the market in Blairsville Georgia in February 2010 over last year. This is mainly due in part to New Construction coming to a near halt. Along with number of new listings going down, the total number of Properties For Sale in Blairsville was down 14% as well.

Our average Days On Market (DOM) for Homes Listed In Blairsville was up 32%, an added 47 days from the previous 149 from a year ago to a total of 196 average days on market. However with the drop in Inventory and a slight increase in Demand, our Month Supply of Inventory, better known as our Absorption Rate is down 14% to roughly 31 months.

If you have any questions or concerns from this North Georgia Real Estate Market Report, please Contact Me, or simply pick up the phone and give me a call at 706.994.8686. I appreciate you taking a moment to read this report, and please come back up on “The Porch” each and every time that you have the opportunity. You are always welcome here.

Make it a Great Day!

As you can imagine, 2009 presented many obstacles for those of us in the Real Estate and Mortgage Industry. It was a tough and challenging year no doubt, but presented some hope for the future. Although 2010 has not started with record breaking numbers, many are still predicting that this could be the year we finally see “The Bottom.”

My broker Robert Rogers, really does a great job leading our agents and guiding us to success. He is a numbers guy, and he stays on top of the market and keeps all of us at Blairsville Realty informed as to exactly what is going on in the Real Estate Market in the Blairsville, GA., and all of the North Georgia Mountains.

I too wanted to congratulate my associates at Blairsville Realty for being #1 in number of units SOLD in all of the Northeast Georgia Board of Realtors(R) MLS, and #1 in number of units SOLD and Sales Volume in Union County. I am very fortunate and proud to work with such a great group of professionals, but more importantly friends that I consider to be family.

Please take a few minutes and look over our latest newsletter. It is packed with a lot of great information and I know that you will find it very informative. Should you have any questions or concerns after reading our Report, please feel free to Contact Me, or simply pick up the phone and call me at 706.994.8686.  As always, thanks so much for visiting me on “The Porch” today. Please come back and visit often.

Make it a GREAT day!

That’s all for the negative, isn’t that nice? Now for some good news. The number of Homes Sold in Blairsville Georgia continues to climb. Union County home sales are up 18%, which sounds a lot better than if I were to say 4 more than October of 2008. It is still positive news any way you slice it. The Residential Inventory in Union County is decreasing each month, down 15% or 137 fewer Homes For Sale this October. The number of Homes that are Under Contract or that have gone Pending is also up 7%, a change of 2 from last October. With new construction still very slow, our number of new properties listed are way down, 37% which is 40 less new listings than we had a year ago. This may not sound like good news, but I actually believe it is. We have  a lot of old inventory that we desperately need to get rid of so that more and more new construction can begin again. Finally, our Absorption Rate is down 17%. This tells us the number of months that it would take to sell all the Residential Inventory that we currently have at current market conditions. Right now that number is 23 months.

Thanks so much for coming up on “The Porch” for another North Georgia Mountain Market Report. I really appreciate it and hope that you do come back again real soon. If you know of someone looking to Buy or Sell North Georgia Mountain Real Estate, I would be grateful if you would pass along to them My Contact information. Even better, forward them this post or a link to The Front Porch View.

Now for the Bad News which actually isn’t all that bad. We continue to fight against the Banks and the troubles that they are causing as well. Home values continue to be driven down mostly due in part to the Short Sales and Foreclosures. I have mixed emotions about that actually. Some of our local Banks are really working hard to involve the local Realtors, while yet others seem to want to do it all on their own. Either way, they didn’t ask to be in this Real Estate Crisis either. Yes we all know they issued a lot of Bad Loans, but if we all would have had a Crystal Ball, I am sure most of us,  if not all of us,  would be in a different situation. The Median Sales Price of Fannin County Residential Homes is down 15%. That price is $208,000, which is much higher than the neighboring counties such as Union County and Gilmer County. The Average Days on Market is also up 31% to 132 days. This is the average number of days that a Home is on the market before it actually sells. I firmly believe that Pricing is 80% of Marketing these days, and if you are not priced right, and I mean aggressively against the competition, you are likely to see your Days on Market to be even higher than that.

Below you will find detailed Graphs and Charts gathered through our Northeast Georgia MLS. Feel free to Call Me at 706.633.8186 or Contact Me if you have any questions or concerns about anything I have said in this Market Report. If I can assist you with any of your North Georgia Mountain Real Estate needs, I would be grateful for the opportunity to speak with you about that.

Thanks so much for visiting me on “The Porch,” and I hope you come back and visit me again real soon.

Make it a GREAT day!