Friday, August 7, 2009

Oconee County GA, Homes for Sale and Market Trends

In the past 30 days in Oconee County we saw the following home sales figures;

Statistics for Homes Sold in Oconee, GA 30 Days ending 8/7/09
(39 listings)
List Price$64,900$699,000$315,723$284,900$12,313,200
Selling Price$65,900$565,000$295,018$270,000$11,505,701
Price/SqFt ($)$0.00$201.14$76.84$97.84--
Days on Market44680220131--

Unlike Athens-Clarke where home sales in excess of $300,000 were hardly to be found, in Oconee we saw 41 percent of homes sold north of this figure. With higher end homes selling however we also see a more protracted average days on market at 220 versus 180+ in Athens-Clarke over the past month.

The other thing of note as well is the fact that on homes sold in excess of this "cut-off" it seems that these homes are selling for more of a discount to list price (92.9% versus 94.8%) and are taking a full 100+ days longer to sell. There is no doubt that the glut of these higher end homes are stagnating the market. Price need to move down on higher end inventory before we see days on market and other statistics, like more homes sold, moving back up again.

Statistics for Homes Sold in Excess of $300k 30 Days ending 8/7/09
(16 listings)
List Price$324,900$699,000$441,300$432,450$7,060,800
Selling Price$310,000$565,000$404,875$405,000$6,478,001
Price/SqFt ($)$0.00$144.83$69.34$91.00--
Days on Market54680323313--

No comments:

Post a Comment