In my last post, of a few minutes ago, I commented regarding sales price to list and what areas are moving. I commented that days on market is still relatively high and that sales prices do need to start moving downward.
One update to this post that I wanted to go ahead and throw out, upon further review, is that for the first time in quite a while, Oconee County, GA home sales have had an increase. Just for the past 30 days, but an increase none the less. In the last 30 days we have seen an almost 8 percent increase in homes sold, as compared to this same thirty day window a year ago, yet total dollar volume of homes sold has decreased by 20.53 percent. This is not necessarily due to price drops or a devaluing of the market as much as it is the decrease of sales in higher end homes that have existed this year.
The biggest price point for an increase in sales this year are between $200,000-$299,900. In this 30 day window a year ago there were only 3 sales where this year there have been 16. The largest sales "hole" is between $300,000-$399,900 where there is a 40 percent decrease in sales volume as compared to a year ago.
Overall I think it good news. While days on market are still protracted, at least we have now on record of a period of increased sales figures.
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