October 2010 Towns County Residential Market Report

Towns County Residential October 2010 Market Report

Towns County surprisingly is the only County in the North Georgia Mountains that I serve that has experienced an Increase in Median Sold Price. Now granted, it isn’t much, but to be the only one of 4 counties is actually saying something. The Media Sold Price for homes Sold in Hiawassee Georgia was up 1% in September 2010, over the previous year. The Median Sold Price was $226,000. The Median For Sale Price however is down 8%, down $20,500 from $249,500. The number of Homes Sold In Hiawassee was up an amazing 56%! There was 14 Homes Sold In Towns County in September of this year. Again with a little good news, comes a little bad news. The number of Homes Under Contract in September of this year was down 17%, only 10 instead of the 12 Under Contract last year.

The number of New Listings hitting the market  in Hiawassee was also down 15%, down to 41 from 48 last year. Also, the total number of listings, or homes for sale in Towns County was down 7%. There was only a total of 494 Homes For Sale as opposed to 533 last September. .

The Average Days On Market was down 7% to 183 Days. This was down 15 Days from 198 in the previous year. The Month’s Supply Of Inventory, or the Absorption Rate was up 14% to 45.8. That is the number of months that it would take to deplete the Inventory at today’s current market conditions.

I hope that you have found this Towns County Real Estate Market Report to be useful. If you are planning on purchasing a home or property in the Hiawassee 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.

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