Monday, August 17, 2009

Athens GA Homes, Market, and Trends

Home Sales statistics in Athens, GA over the past week;

(22 listings)
List Price$28,500$670,000$192,549$144,500$4,236,074
Selling Price$28,500$610,000$179,591$136,000$3,951,000
Days on Market19906227121--

While days on market were a little higher than had been the norm of late, the average priced sale was also a bit higher thanks to a full 21 percent of sales being in excess of $300,000. 63 percent of these sales were in East Athens, which remains a hot spot in town due to lower than the overall median home price for the area.

On sales over $300,000 this week we saw an average List/Sold percentage of "only" 91.77 percent with the low at 88 percent of List/Sales price. Compare this to sales price below $215,000, and we see at List/Sold percentage or ratio of almost 95 percent of list price.

As far as foreclosure sales are concerned, only 3 out of these 22 home sales were bank owned sales. Compared to the most recent figures from the NAR where in July 31 percent of homes sold nationwide are foreclosure sales, our 13.63 percent of foreclosure sales is thankfully low in comparison. In fact, if you go back over the past six months in Athens, GA you will find 71 bank owned foreclosure sales out of 468 total homes sold. Foreclosures nationwide have made up anywhere from a high of 49 percent of the market down to a recent 31 percent in recent months. At 15.3 percent over this time frame, we have had a relatively consistent market on distressed property this year. Consistently low as compared to non-distressed sales.

This is a great deal to be thankful for in our marketplace!

1 comment:

  1. Very informative real estate blog. Thanks I have bookmarked this one.

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