May 2010 Fannin County Vacant Lot Market Report

The Mountain Life Team Blogger May 12, 2010

Property For Sale in Blue Ridge, GA. has been showing some signs that sales could be on the rise. Recent Reports show that Median Sales Prices for Vacant Lots in the area of Blue Ridge, located in Fannin County has increased 21% from a year ago. With Median For Sale Prices declining  a matching 21%, this tells me that Vacant Lots For Sale are holding a higher sale to list percentage. In other words, sales prices are much closer to the Seller’s list price these days, at least those Realistic Seller’s that know and understand the market.

The Number of Lots Sold in Blue Ridge in April was up 12%, from 8 Sold last April to 9 in April 2010.  However it is not looking to good on the books for May. There were only 6 lots that went Under Contract in April, that is a decrease of 25% from a year ago. The number of New Lots For Sale in Blue Ridge continues downward, a 9% decrease year over year. However when you take a look at the Total  Number of Vacant Lots For Sale in Fannin County, the inventory is down 32%, down 368 Lots from 1,164 to 796.

The Average Days On Market (DOM) is also really coming down, a huge decrease down from 721 Days to 248 Days, a difference of 66%.  This of course brings down the Absorption Rate 13% to an average of 114 Months to deplete the Inventory of Vacant Lots in Blue Ridge at today’s sales rate.

My name is Chad, I appreciate you taking a minute to look at this Fannin County Vacant Lot Market Report. I would invite you back to “The Porch” anytime you are seeking advice on North Georgia Mountain Real Estate, whether it is a Log Cabin For Sale in Blue Ridge,  a Home For Sale in Blairsville, or maybe a Foreclosure For Sale in Ellijay, I would be grateful for the opportunity to speak with you. Please Contact Me, or give me a call at 706.994.8686 if you would like any explanations on anything you have read in this Blue Ridge Real Estate Market Report.

Thank You, and Make Today Great!

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