Wednesday, July 29, 2009

Athens GA Home Sales; Peak Season

One thing I have noticed is that it seems that in the last two weeks the market has exploded. Homes are falling under contract with more regularity. Still, one constant seems to remain. The lack of "step up" buyers in the market. Below you will find a chart of homes sold in the Athens MLS in the last two weeks. There were only four homes out of 36, or 11 percent, which were over $250,000.

(36 listings)
List Price$12,000$525,000$168,450$138,000$6,064,200
Selling Price$8,000$452,000$159,069$136,750$5,726,500
Days on Market26999166105.5--

Contrary to the national media attention to the mythological "national real estate market," we are seeing a strong 95 percent List/Sold ratio for home sellers in the Greater Athens area and a reasonable DOM (days on market) in the past couple of weeks of 166 days on properties sold.

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