Georgia Real Estate - North Georgia Blue Ridge Mountains Market Watch

North Georgia Blue Ridge Mountains Market Watch 2008
Fannin, Gilmer, Union, Towns and Pickens Counties

Single Family Residential Homes Sales for February

 

For all counties combined as of March 8, 2008 - There are 2837 active, contingent and 141 pending homes on the market.  The average list price is $336,286 and prices range from $8500 up to $3,500,000.

 

Fannin County  (Zip Codes) Blue Ridge 30513; Morganton; 30560; Mineral Bluff 30559; Epworth 30541;                                           McCaysville 30555

There are 801 active, contingent and 24 pending homes on the market.  The average list price is $376,210 and prices range from $49,900 to $3,500,000.  The number of homes sold in February 2008 is 26 with an average list price of $203,738 and an average sold price of $192,706.  Average days on the market were 106 days. (As of March 8, 2008)                                 February 2008                                             February 2007 Average List Price: $203,738 Average List Price: $302,626 Median List Price $187,450 Median List Price $285,000 Average Sold Price $192,706 Average Sold Price $287,174 Median Sold Price $179,825 Median Sold Price $270,000 # Units Sold 26 # Units Sold 27 Days on Market 106 Days on Market 115 Sold to List 94.59% Sold to List 94.89 Sold to Original 89.64 Sold to Original 90.6

 

 

Gilmer County  (Zip Codes) Ellijay 30536, 30540; East Ellijay 30539, Talking Rock 30705

There are 797 active, contingent and 53 pending homes on the market.  The average list price is $294,662 and prices range from $8500 to $2,737,777.  The number of homes sold in February 2008 is 21, with an average list price of $267,357 and an average sold price of $252,542.  Average days on the market were 126 days.  (As of March 8, 2008)                                  February 2008                                            February 2007 Average List Price: $267,357 Average List Price: $201,350 Median List Price $294,500 Median List Price $179,900 Average Sold Price $252,542 Average Sold Price $190,444 Median Sold Price $239,480 Median Sold Price $179,500 # Units Sold 21 # Units Sold 42 Days on Market 126 Days on Market 125 Sold to List 94.46% Sold to List 94.58% Sold to Original 89.85% Sold to Original 92.89%

 

 

Towns County  (Zip Codes) Hiawassee 30546; Young Harris 30582

There are 390 active, contingent and 7 pending homes on the market.  The average list price is $403,190 and prices range from $39,900 to $2,899,900.  The number of homes sold in February 2008 is 10, with an average list price of $275,710 and an average sold price of $251,200.  Average days on the market were 244 days.  (As of March 8, 2008)                                  February 2008                                            February 2007 Average List Price: $275,710 Average List Price: $305,393 Median List Price $239,200 Median List Price $279,900 Average Sold Price $251,200 Average Sold Price $282,233 Median Sold Price $206,750 Median Sold Price $260,000 # Units Sold 10 # Units Sold 15 Days on Market 244 Days on Market 205 Sold to List 91.11% Sold to List 92.74% Sold to Original 83.98% Sold to Original 88.53%

 

 

Union County  (Zip Codes) Blairsville 30513, 30514

There are 649 active, contingent and 53 pending homes on the market.  The average list price is $309,765 and prices range from $45,000 to $1,749,777.  The number of homes sold in February 2008 is 17, with an average list price of $247,493 and an average sold price of $226,224.  Average days on the market were 162 days.  (As of March 8, 2008)                                  February 2008                                            February 2007 Average List Price: $247,493 Average List Price: $204,138 Median List Price $274,900 Median List Price $199,000 Average Sold Price $226,224 Average Sold Price $191,512 Median Sold Price $220,000 Median Sold Price $185,000 # Units Sold 17 # Units Sold 21 Days on Market 162 Days on Market 117 Sold to List 91.41% Sold to List 93.82% Sold to Original 85.09% Sold to Original 90.32%

 

 

Pickens County  (Zip Codes) Jasper 30143; Talking Rock 30175

There are 200 active, contingent and 35 pending homes on the market.  The average list price is $298,054 and prices range from $66,900 to $1,950,000.  The number of homes sold in February 2008 is 8, with an average list price of $169,038 and an average sold price of $177,400.  Average days on the market were 160 days.  (As of March 8, 2008)                                  February 2008                                            February 2007 Average List Price: $169,038 Average List Price: $205,636 Median List Price $177,400 Median List Price $199,000 Average Sold Price $159,788 Average Sold Price $197,209 Median Sold Price $162,250 Median Sold Price $185,000 # Units Sold 8 # Units Sold 11 Days on Market 160 Days on Market 49 Sold to List 94.53% Sold to List 95.9% Sold to Original 91.75% Sold to Original 95.9%

 

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North Georgia Blue Ridge Mountains Market Watch 2008
Fannin, Gilmer, Union, Towns and Pickens Counties

Single Family Residential Homes January

Fannin County  (Zip Codes) Blue Ridge 30513; Morganton; 30560; Mineral Bluff 30559; Epworth 30541;                                           McCaysville 30555

There are 844 active, contingent and pending homes on the market.  The average list price is $366,960 and prices range from $49,900 to $3,500,000.  The number of homes sold since January 1, 2008 is 30 with 132 average days on the market.  (As of February 8, 2008)

 

Gilmer County  (Zip Codes) Ellijay 30536, 30540; East Ellijay 30539, Talking Rock 30705

There are 843 active, contingent and pending homes on the market.  The average list price is $286,347 and prices range from $8500 to $2,737,777.  The number of homes sold since January 1, 2008 is 15 with 169 average days on the market. (As of February 8, 2008)

 

Union County  (Zip Codes) Blairsville 30513, 30514

There are 667 active, contingent and pending homes on the market.  The average list price is $303,218 and prices range from $44,900 to $1,749,777.  The number of homes sold since January 1, 2008 is 24 with 182 average days on the market.  (As of February 8, 2008)

 

Towns County  (Zip Codes) Hiawassee 30546; Young Harris 30582

There are 385 active, contingent and pending homes on the market.  The average list price is $417,570 and prices range from $39,900 to $3,125,000.  The number of homes sold since January 1, 2008 is 9 with 163 average days on the market.  (As of February 8, 2008)

 

Pickens County  (Zip Codes) Jasper 30143; Talking Rock 30175

There are 244 active, contingent and pending homes on the market.  The average list price is $285,379 and prices range from $46,000 to $1,950,000.  The number of homes sold since January 1, 2008 is 6 with 101 average days on the market.  (As of February 8, 2008)

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The latest demographic study according to the Fannin County Chamber of Commerce reports Blue Ridge Georgia as the 13th in the nation for real estate growth and  5th in the nation for second home ownership.

North Georgia Blue Ridge Mountains Real Estate Market Watch - January 2008 - Feb 03 11:54 AM 
North Georgia Blue Ridge Mountains Market Watch - January 2008 Donna Yates, Georgia Realtor | North Georgia Blue Ridge Mountains
Fannin | Gilmer | Union | Towns | Pickens Counties Single Family Residential Home Sales January 2008 compared to January 2007 
Data source:  Northeast Georgia Multiple Listing Service February 2, 2008...

North Georgia Blue Ridge Mountains Market Watch - January 2008
Donna Yates, Georgia Realtor | North Georgia Blue Ridge Mountains

The market data below is for Fannin | Gilmer | Union | Towns | Pickens Counties

Single Family Residential Home Sales
January 2008 compared to January 2007 
Data source:  Northeast Georgia Multiple Listing Service as of February 2, 2008

Fannin County				January 2008	January 2007
City/Town	Zip Code		Total Units Sold	22	40
Blue Ridge	30513		Average List Price	$297,332	$295,424
Mineral Bluff	30559		Median List Price	$275,000	$274,900
Morganton	30560		Average Sold Price	$277,964	$285,575
Epworth	30541		Median Sold Price	$263,700	$254,750
McCaysville	30555		Avg. Days on Market	137	121
			Sold to List	93.49%	96.67%
			Sold to Original	85.03%	94.38%
			Active	828
			Pending	24

Gilmer County				January 2008	January 2007
City/Town	Zip Code		Total Units Sold	12	37
Ellijay	30536 30540		Average List Price	$204,580	$240,456
East Ellijay	30539		Median List Price	$198,450	$225,000
Talking Rock	30705		Average Sold Price	$193,614	$233,650
			Median Sold Price	$192,284	$214,000
			Avg. Days on Market	186	102
			Sold to List	94.64%	97.17%
			Sold to Original	85.38%	94.85%
			Active	786
			Pending	43

Union County				January 2008	January 2007
City/Town	Zip Code		Total Units Sold	17	22
Blairsville	30512 30514		Average List Price	$217,147	$211,123
			Median List Price	$194,000	$189,900
			Average Sold Price	$212,470	$199,182
			Median Sold Price	$184,000	$187,700
			Avg. Days on Market	180	89
			Sold to List	97.85%	94.34%
			Sold to Original	91.74%	87.59%
			Active	637
			Pending	30

Towns County				January 2008	January 2007
City/Town	Zip Code		Total Units Sold	7	7
Hiawassee	30546		Average List Price	$205,484	$379,528
Young Harris	30582		Median List Price	$199,900	$299,900
			Average Sold Price	$181,057	$355,000
			Median Sold Price	$180,000	$280,000
			Avg. Days on Market	122	102
			Sold to List	88.11%	93.54%
			Sold to Original	85.2%	88.22%
			Active	361
			Pending	13

Pickens County				January 2008	January 2007
City/Town	Zip Code		Total Units Sold	5	7
Jasper	30143		Average List Price	$212,960	$157,861
Talking Rock	30175		Median List Price	$149,900	$164,900
			Average Sold Price	$197,700	$154,989
			Median Sold Price	$142,000	$164,000
			Avg. Days on Market	93	110
			Sold to List	92.83%	98.18%
			Sold to Original	90.29%	97.74%
			Active	210
			Pending	36

Overall Market News for all counties combined (as of February 3, 2008):

• 2782 single family homes are currently available for sale; 34 homes are contingent; 146 homes are pending
   
• 63 single family homes sold in January 2008 compared to 113 homes sold in January 2007
  
• Average Days on Market are 153 days in January 2008 compared to 113 days in January 2007
  
• On average, sellers are getting 94.18% of their list price in January 2008 compared to 96.22% in January 2007.  Buyers making offers much lower than this are not as likely to get an acceptance on a property in good to excellent condition
  
• Average Sold price is $227,087 in January 2008 DOWN from $247,965 in January 2007
  
• Average median Sold price is $190,000 in January 2008 DOWN from $220,000 in January 2007

Disclaimer:  The information contained herein is deemed reliable and accurate but is not guaranteed.

North Georgia Real Estate Market Conditions for End of Year (EOY) 2007

Following are real estate market statistics as reported by the Northeast Georgia Multiple Listing Service for the North Georgia Blue Ridge Mountains.  This market information is comprised of the following counties in Northeast Georgia:  Fannin, Gilmer, Union, Towns, and Pickens and provides a snapshot of current real estate market conditions.  Please bookmark my website:  www.move2northgeorgia.net  to keep informed of ongoing real estate market conditions in the North Georgia Mountains.  This data has been edited to show EOY (end of year) 2007 market acitivty.  Updated 1-2-2008

Market News

• 2879 single family homes are available for sale as at EOY 2007 for all counties combined 
• 1594 single family homes sold since January 1, 2007 to December 31, 2007 compared to 2004 single family homes sold during the same time period in 2006 resulting in a decline in demand of 410 homes.  Keep in mind this is a decline of only 410 homes across a combined total of 5 counties. 
• Average Days on Market in 2007 are 130 days compared to 123 days in 2006 resulting in a slight increase in 2007
• On average, sellers are getting 94% of their list price.  Buyers making offers much lower than this are not as likely to get an acceptance on a property in good to excellent condition.
• Average Sold price is $245,906 in 2007 up from $235,973 in 2006
• Average median Sold price is $212,500 in 2007 up from $205,000 in 2006

Market Snapshot 

This chart represents the number of homes Sold in all price ranges at EOY 2007 compared to 2006.  Sales are down in 2007 with more homes selling in the "up to 300K" range for both years. 

This chart represents the number of homes Sold by county at EOY 2007 compared to 2006.  Fannin County had a decrease in home sales in 2007 of 187 less homes.  Gilmer County had a decrease of home sales in 2007 of 191 less homes.  Union County had an increase in homes sales in 2007 of 7 homes.  Towns County had a decrease in home sales in 2007 of 70 less homes.  Pickens County had a decrease of home sales in 2007 of 150 less homes. 

This chart represents Inventory levels for residential single family homes compared to number of homes Sold at EOY 2007.  Homes are continuing to sell at a normal pace but inventory is out of line compared to the number sold.  Properties must be priced right to bring the inventory under control.  Higher inventory offers home buyers an advantage in selection of homes and avoid bidding wars resulting in paying an inflated sales price.

The Average Sold Price reflects the total sold $ volume by the number of properties sold in a specified time.  This chart represents Average Sold Price for residential single family homes in 2007 compared to 2006.  It is important to note that a change in the average sold price does not indicate that property value has increased or decreased accordingly.  The main purpose for this measure is to know which price range is most active.  This trend is only one of many factors in estimating home values.  This chart has been updated to include end of year (EOY) 2007 sales.  The Average Sold Price increased in 2007 for Fannin, Union and Pickens Counties.

This chart represents the number of Days on Market at the EOY 2007 compared to 2006. 

For more information regarding the real estate trends for the North Georgia Blue Ridge Mountain area or for your specific zip code, please contact Donna in Blue Ridge and visit http://www.move2northgeorgia.net/

Copyright:  Donna Yates, Georgia Realtor | North Georgia Blue Ridge Mountains