According to powerhouse Trulia.com, there are 2,086 homes in Athens for sale on Trulia. This includes 187 homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process. Good news in the recent week is that distressed properties for sale as a percentage of total inventory fell to 8.9 percent. On inventory listed through Trulia, they report an average list price in Athens of $223,644 for the week ending Jul 01, unchanged from the previous week.
The Athens MLS shows for the past month that average and median sales prices are $155,576 and $140,500 respectively while the average DOM (days on market) was at 188 days which is up more than 10 percent as compared to June of 2008. Average and median sales prices in June of 2008 were $182,017 and $156,000 respectively. This does not mean that prices have fallen per se. It does mean that what’s selling are homes that are priced most attractively. Add to this the high volume of first time home buyers and the absence of “step up” buyers from this year’s market, and it is no wonder that homes in the $100k’s are moving. In June of 2008 roughly 33 percent of all homes sold in Athens were over $200,000. In June of this year, only 14 percent.
If you are a buyer in our market, these are probably the best buying conditions in 30 years! If you would like to search the Athens MLS with MapTracks please take a look at listings in our “Classic City” today! On this web MLS search solution you can search every listing on the Georgia MLS for the Greater Athens area or in your Georgia town!
Photo courtesy Athens Convention and Visitors Bureau.