Athens GA Real Estate Trends and Analysis

If you haven't had your home on the market for the past 12 months you probably don't know what to expect in terms of DOM (days on market). How have properties in Athens, GA performed under pressure?

Time on Market Analysis
For Units Sold
Days	Residential	Other	Total
0 - 30	22	2	24
31 - 60	101	7	108
61 - 90	122	3	125
91- 120	94	1	95
121+	446	5	451

Out of 803 residential properties sold in the last 12 months (through 8/24/09), roughly 3 out of 5 was on the market for more than 121 days. The price point with the longest DOM was actually between $250,000-$299,999 where the average home sold in 346 days on market! The price range with the most homes sold was between $100,000-179,999 where more than half of all homes in the Athens area sold.

How about financing? How are people finding money for home purchases and putting deals together in this period of tight credit?

Type of Financing Analysis
For Units Sold
Financing	Residential	Other	Total
Cash	161	8	169
VA	7	0	7
Owner Financing	4	0	4
Conventional	387	9	396
FHA	204	1	205
Other	22	0	22

A full 1 buyer in 4 was able to obtain FHA backed financing. "Conventional" financing was most dominate with roughly half going that route while a few put together deals with the help of VA and owner financed arrangements. What might surprise you is that almost 1 home in 5 was a cash purchase!

There are still homes being bought and sold and money to be found in the purchase of a home when the "deal" is found or that right "first" or "step-up" home is being sought after. The key is to keep looking! Right now homes are at such a relative bargain.