Friday, September 4, 2009

Athens GA Home Sales, week of August 31, 2009

What's sold in Athens, GA this week? As we conclude the week leading up to Labor Day 2009, this week's home sales statistics are as follows;

(16 listings)
List Price$29,900$299,900$145,725$124,000$2,331,600
Selling Price$25,000$250,000$135,043$113,122$2,160,688
Days on Market26567142110.5--

East Athens had 11 of these sales while Five Points had three (3) and North Athens the remaining two (2) for the week. Average and median priced sales were lower than in recent weeks showing a bias toward the lower end of our market. Out of sixteen sales only three (3) were in excess of $200,000. This is typical of what we see in the Athens market with a predominate average sales price this year in the $160k range.

With 16 sales this week this would be a prorated 832 sales in a 52 week year which is off a little from the pace set in the last 30 days in Athens where we have seen 76 homes sold (988 in a year). This figure over the past month is getting more respectable. To get inventory levels down however our market needs to sell at least 100 homes a month in Athens just to start making a dent.

This same 30 day window a year ago saw 106 homes sold where 24.6 percent of homes sold were in excess of $200,000 (versus 18 percent this year). This still shows a stagnation in sales over $200k in our area.

The good news is that we had a good month. After the most recent 12 months sales figures sat at less than 800 homes sold, in the last two months in Athens we have seen roughly 185 homes sold. That is good news for everyone!


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