Monday, July 27, 2009

Athens GA Homes, Market, and Trends

We find that as of today there are 2,091 homes in Athens Georgia for sale on Trulia as well as 231 homes in the "pre-foreclosure," auction, or bank-owned stages of the foreclosure process. This 9:1 Ratio of non-distressed sales inventory to distressed sales is relatively low compared to Atlanta, Georgia as a whole, and the nation.

According to Trulia the average list price for homes for sale in Athens was $228,829 for the week ending Jul 22, 2009, which was a gain of about 1.5 percent, or $3,000 for the current week.

Quick Statistics from the Athens Multiple Listing Service regarding 80 sales in the past 30 Days show the following;

(81 listings)
List Price$12,000$639,000$162,708$138,000$13,179,349
Selling Price$8,000$624,000$155,823$131,500$12,465,845
Days on Market22999178114--

What seems most interesting is that the "Step Up Buyers" are still not to be found. In July of 2008 there were 105 Homes sold in Athens, GA and 32 of those (or 30.4 percent) were over $200,000. Thus far in July of 2009 we see this figure of homes sold over $200,000 reduced to 15.3 percent and the number of homes sold decreased to 78 this year. This of course will lower average and median sales prices, but it does not indicate a "price fallout," per se, but a majority of homes sold in that "first time home buyer" price point.

Comparatively speaking it has been a good month. We are still seeing a slight decrease year over year towards the end of July in the numbers of homes sold in Athens. The positive is that on actual sales we are seeing Sellers get a high percentage of List/Sales price.

1 comment:

  1. Thanks for the update!!! Wow, awesome real estate blog.

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