2007 3rd Quarter North Georgia Mountain Residential Market Reports

The Mountain Life Team Blogger November 21, 2007

Here on The Front Porch View I want to be able to provide you with all of the information that you need to make a very good and well educated decision when buying or selling North Georgia Mountain Property. If I have not included a North Georgia Mountain county that you would like to know more about and what the real estate market is doing in that area, please contact me and I will be more than happy to obtain that data for you.

The number of listings have slowly been on the rise for all three counties that I have re-VIEWed. Fannin county listings have climbed higher than both Gilmer and Union counties.

Residential_listings

Gilmer county has been having a better quarter than both Fannin and Union county in home sales. September had more sells in both Gilmer and Union counties while August was a better month for Fannin county.

3rd_quarter_residential_sales

As far as the average Days On Market (DOM), Gilmer and Union were very similar, however Fannin county was almost opposite. Fannin counties DOM started out higher then dropped below both Gilmer and Union county while they where on the rise in August. Fannin county climbed back to the highest of the three counties in September for DOM. It is very important to Price Your Home Correctly in order to keep your DOM below the markets average.

3rd_quarter_average_days_on_market

In re-VIEW of the report below, Fannin county has seen a significant increase in the average sales price of the homes being sold. Union county on the other hand had a slight increase for the month of August, but then began decreasing back close to $200,000. Gilmer county did not experience much change, but did have an insignificant steady increase in average sales price.

3rd_quarter_residential_average_sales

If you re-VIEW the report below, you will find that Fannin county maintains the highest Median Price of the homes sold in the counties that I have reported on in the North Georgia Mountain area. Although the median price went down in August, it did climb back to just above $250,000. Both Gilmer and Union county have been experiencing a decline in their median price.

3rd_quarter_median_sold_price

This last report re-VIEWS the price differential of the three counties. The price differential is the difference of the price the home sold for, compared to what it was listed for. This gives home buyers and real estate agents a better idea of what to expect when making an offer on and pricing property. For the first time in several years, I am seeing that the list to sell price is dropping at or near the low 90% range. While all three counties have experienced a steady decrease in price differential, Gilmer county has sustained the highest list to sell percentage.

3rd_quarter_price_differential

All of these reports point to the fact that we are in a Buyer’s Market. Listings are on the rise, median prices for the most part are decreasing, DOM are on the rise and the average sell price is declining. If you have ever thought about purchasing a cabin in the North Georgia Mountains, now is the time. If you have any questions about the market or any property in the Blue Ridge, Blairsville or Ellijay area, please contact me. Also please remember, if you have any friends or family that might also be looking for a second home get-a-way, or an incredible investment opportunity, I am never too busy for your referrals. I would appreciate you keeping me in mind.

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See What Others Are Saying

  1. Dear Chad,

    I specialize in North Georgia Mountain Real Estate as well- but a little further East of your”neck of the woods.

    White and Habersham Counties – Alpine Helen, Sautee-Nacoochee, Cleveland, Clarkesville, Demorest, Batesville, Mt. Airy, Demorest and surrounding towns, to be a little more precise.

    Our market reflects just excatly what you published and charted- that it’s a GREAT time to buy in the North Georgia Mountains.

    As a matter of fact, our part of paradise was just featuted in the New York Times – in the Havens Travel Section by writer Joseph Samuel Starnes:
    Here’s the link:
    http://www.nytimes.com/2007/11/23/travel/escapes/23havens.html?_r=1&oref=slogin

    So thanks for taking the time to tell the folks about our Buyer’s Market conditions- and realize that now is the time to invest in the glorious North Georgia Mountains!

    Glad I found your Blog-and I hope you and I can do some referral business together!

  2. Chad – Love the chart and detail – I’m sure the folks in the North Georgia Mountains like the simplicity of the information.

  3. Great market data and information for buyers and sellers in the North Georgia Mountain area.Looks like now is the time for FLoridians to head for the hills of North Georgia to buy a second home!!

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