October 2010 Towns County Residential Market Report

The Mountain Life Team Blogger October 31, 2010

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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