Georgia Mountain Market ConditionsOur tracking of Georgia Mountain Market Conditions for the last few months indicates there has been a small up tick in activity in the Georgia Mountain housing market. The slide in median price of homes sold appears to have slowed. The following statistical information on Georgia Mountain Market Conditions is derived from Northeast Georgia Board of Realtors® MLS data. Gilmer County (Ellijay) In 2007 -- The median sold price for homes (548) was $185,500. Average time on the market was 128 days. Selling price averaged about 95.2 percent of the asking price. In 2008 -- The median sold price for homes (358) was $179,900. Average time on the market was 129 days. Selling price averaged about 93.4 percent of the asking price. In 2009 -- The median sold price for homes (323) was $157,000. Average time on the market was 157 days. Selling price averaged about 92.1 percent of the asking price. In 2010 (through June) -- The median sold price for homes (152) was $140,525. Average time on the market was 141 days. Selling price averaged about 92.7 percent of the asking price. As of July 6, 2010 – There were 748 homes on the market. Of these, 81 were listed as foreclosures, and 46 were under contract with a median list price of $155,000. Fannin County (Blue Ridge) In 2007 -- The median sold price for homes (408) was $270,000. Average time on the market was 130 days. Selling price averaged about 94.0 percent of the asking price. In 2008 -- The median sold price for homes (338) was $225,000. Average time on the market was 126 days. Selling price averaged about 91.8 percent of the asking price. In 2009 -- The median sold price for homes (365) was $215,000. Average time on the market was 151 days. Selling price averaged about 90.4 percent of the asking price. In 2010 (through June) -- The median sold price for homes (195) was $185,000. Average time on the market was 136 days. Selling price averaged about 91.5 percent of the asking price. As of July 6, 2010 – There were 897 homes on the market. Of these, 101 were listed as foreclosures, and 62 were under contract with a median list price of $171,200. Union County (Blairsville) In 2007 -- The median sold price for homes (357) was $199,000. Average time on the market was 127 days. Selling price averaged about 94.2 percent of the asking price. In 2008 -- The median sold price for homes (279) was $182,500. Average time on the market was 141 days. Selling price averaged about 93.1 percent of the asking price. In 2009 -- The median sold price for homes (310) was $165,000. Average time on the market was 163 days. Selling price averaged about 90.2 percent of the asking price. In 2010 (through June) -- The median sold price for homes (139) was $143,000. Average time on the market was 165 days. Selling price averaged about 90.1 percent of the asking price. As of July 6, 2010 – There were 723 homes on the market. Of these, 73 were listed as foreclosures, and 59 were under contract with a median list price of $149,900. Towns County (Hiawassee) In 2007 -- The median sold price for homes (198) was $245,350. Average time on the market was 168 days. Selling price was about 91.4 percent of the asking price. In 2008 -- The median sold price for homes (139) was $205,000. Average time on the market was 182 days. Selling price averaged about 89.8 percent of the asking price. In 2009 -- The median sold price for homes (125) was $175,900. Average time on the market was 195 days. Selling price averaged about 90.1 percent of the asking price. In 2010 (through June) -- The median sold price for homes (62) was $167,000. Average time on the market was 138 days. Selling price averaged about 83.5 percent of the asking price. As of July 6, 2010 –
There were 520 homes on the market.
Of these, 34 were listed as foreclosures, and 22 were under contract with a median list price of $154,450.
Additional information about current real estate conditions may be found in my free on-line Monthly Newsletter and the Daily Real Estate Update.
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