Ahhhhh – Fall has finally arrived and we can start to see the brilliant colors of leaves as they turn…the “leaf season” is here in the North Georgia Mountains!
As we’ve said, The Real Estate Market here in the mountains continues to improve. The Median Price of For Sale Properties is up 9% collectively for the Fannin, Gilmer, Towns and Unions market to $239,000 and the median price of sold properties is up 7% to $178,900. The number of homes sold has decreased now -1% and there were 183 units (homes) closed in September 2015.
Just like in the month of August, the number of homes actively for sale on the market decreased significantly in September. There were 447 fewer homes on the market for a total of 1,969 in the four county market for a decrease of 19%. Just like in August, with fewer homes on the market and an increase in sales, of course the month supply of inventory should go down and that is exactly what happened. The Month Supply of Inventory (MSI) is down 21% to just 8.8 Months. The average Days On Market (DOM) is down 21% in Sept to 118 Days.To wrap it up, there are still fewer homes on the market, more homes are being sold and in less days than before. New construction is continuing to improve but still at a slower pace. So, basically we’re still looking at a steady shift to a Sellers Market here in the North Georgia Mountains.
If you are thinking about selling your Mountain Home or Cabin, or possibly some Acreage or a Vacant Lot, Fall is still a great time to do it. The Mountain Life Team | KW Realty Partners would be grateful for the opportunity to earn your business. Please give us a call and let us show you the value we can bring to you and your Real Estate needs. Don’t take our word for it, just take a look at what some of our recent clients have said about us! Hope this market report has helped you and if you haven’t signed up to receive our emails to your inbox- do so today. Sign up in the footer below!
Take care, and make it a great day!
The Mountain Life Team | KW Realty Partners 706-745-3123 or [email protected]