January 2011 Union County Residential Market Report

Union County Residential Real Estate Market Report – February 2011

Homes in Georgia continue to see a decline in Median Sold Prices.  Houses For Sale in Georgia are being rocked by Bank Owned Real Estate For Sale. We are not immune to it here in the North Georgia Mountain Real Estate Market either.

The Media Sold Price for Homes Sold in Union County was down another 5% in January 2011. A drop of $7,600 to $144,900. The Median Sales Price for Homes For Sale in the Blairsville, GA. Market was also down 3% to $185,000. The number of Houses Sold in January was down 25%. Only 15 Homes Sold in Blairsville, down 5 from 20 that sold a year ago. Now are you ready for some Good News, there are currently 43 Homes Under Contract in Union County. That is a change of 19 from last year, and a 79% increase. January marks the second highest month for Pending Home Sales in Union County in the past year.

New Real Estate Listings are down 37%. I guess those would-be Seller’s that do not need to sell are listening to their Real Estate Agent. I tell my customers and clients that unless circumstances arise that cause you to sell, now is just simply not the time to Sell Your Ga Mountain Home. The total number of Properties For Sale is down 26% to only 577 Houses.

The Average Days on Market (DOM) is down 8% to 161 Days. This is the number of days on average that it takes to market and Sale Homes In Union County. The Months Supply of Inventory, or better known as the Absorption Rate was 11.2 in January 2011. That is down almost 60% year over year. This is due mostly in part to both the Supply and Demand each being down around 25%.

If you have any questions or concerns about anything that you have read in this report, please Call Me at 706-994-8686, or you can simply Contact Me Here.

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