October 2010 Gilmer County Residential Market Report

The Mountain Life Team Blogger October 30, 2010

Gilmer County Residential October 2010 Market Report

Leaves aren’t the only thing falling in Gilmer County. Much like that of the surrounding counties in the North Georgia Mountain Real Estate Market, the Median Sold Price for Homes Sold in Ellijay, GA. has dropped 10% from September of 2009. The Median Sold Price for residential sales in Gilmer county dropped $15,500 to $137,500. The Median For Sale Price for Gilmer County also dropped year over year 7%, a change of $15,000 to $199,900. What is more staggering than that is the fact that there were 13 fewer homes sold in September this year, than the 35 Homes Sold In Gilmer County last September. The number of Homes Under Contract in Ellijay were also down 8%, down to 37  Pending Sales from 40 a year ago.

The number of New Listings For Sale In Ellijay being offered on our MLS was down 10%. The total number of Homes For Sale in Gilmer County was down 5% from September 2009 to a total of 819, a change of 41 homes. The Average Days On Market (DOM) was down 17% to 156 days. The Months Supply of Inventory, also known as The Absorption Rate, was up 2% to 19.3 months. The Absorption Rate tells us home many months it would take to sell all the homes available under current market conditions.

I hope that you have found this Gilmer County Real Estate Market Report to be useful. If you are planning on purchasing a home or property in the Gilmer County area, or other areas in the North Georgia Mountains, please Contact Me. I would be grateful for the opportunity to work with you, and to assist you every step of the way.