Nearing the end of 2013, it is apparent that New Construction is going to be a driving force for our North Georgia Mountain Real Estate Market moving forward into 2014. I have been told from numerous clients from different regions of Florida and all corners of Atlanta, that New Construction is definitely back in full swing. It seems that the wave is just a few short months away form rolling on into the Mountains of Georgia.
The chart above show the New Construction Permits that have been issued in each county across the North Georgia Mountains. Fannin County is leading the way with a Total of 146 New Construction Permits through the end of November 2013. Union County reported 88 while Gilmer was reporting 79 New Construction Permits. Towns County had a total of 53 permits issued. The total for the 4 counties combined was 366 permits.
Even more interesting that the spike in New Construction Permits issued, is the actual sales statistics. The Northeast Georgia Board of Realtors® MLS is showing that 49 New Construction Homes and Cabins have sold in the 4 Counties combined this year. Here is where it gets interesting. Those 49 Homes and Cabins Sold in an average of 92 Days On Market at an amazing 97.26% Sold To List ratio. The average List Price was $303,657 and the average Sold Price was $295,328. The lowest Sold was $65,000, and the Highest was Sold I am proud to say by Steve Foster, one of The Mountain Life Team’s Buyer Specialist, and it was a Lake Blue Ridge Home that Sold for $956,250. There are currently 59 New Construction Homes and Cabins For Sale in the North Georgia Mountains.
This information is provided by the permitting offices of each county. While we have been provided this information, we do not know for certain how many of these New Construction Permits were issued for speculative building. However this data is solely reporting New Construction Permits only, and excludes any additions or renovations.
If you have any questions or concerns with the information provided in this North Georgia Mountain Real Estate Market Report, please Contact Us or give Chad Lariscy a call at 706.994.8686. Thank you for taking the time to read this market report, and if we can assist you with any of your Georgia Mountain Real Estate needs, please do not hesitate to call on The Mountain Life Team today.