October 2010 Union County Vacant Lot Market Report

The Mountain Life Team Blogger October 17, 2010

Union County Vacant Lot October 2010 Market Report

The Union County Vacant Lot Market Report for the Blairsville Georgia area in October 2010 doesn’t look very good. Median Sold Price for the month is down 22% from this time last year. The Median Sold Price for Union County Vacant Lots is $15,500. The Median Sales Price is also down, but only 12%, down $5,900 from $49,900. There was not a change from the number of Lots Sold this month compared to that a year ago. However, there was a significant drop from August to September, down to only 7 Lots Sold from 16 last month.

October should bounce back however. With the number of Lots Under Contract rising to 10, there is a good chance that we will see an increase in closed transactions in October. The number of New Lots coming on the market is up 65%, up to 43 units from only 26 in September 2009. Now the problem with tracking this is that we simply do not know how many of those went off the market and came back on the market. It could be a combination of making a change of Listing Broker, or even a Foreclosure that has now re-entered the market with the Bank. The Total number of Lots For Sale is down 16%, to 1,299 Lots.

The Average Days On Market (DOM) experienced the largest increase. The DOM for Lots For Sale In Blairsville, GA. is 327 Days. That is an increase of 97% from the 170 a year ago. The Absorption Rate, or Months Supply of Inventory is 122.2 Months. That is actually down 50% from 244.5 in September of 2009.

If you have any questions or concerns about Lots For Sale In Union County, please Call Me at 706.994.8686, or you can Contact Me and I will get back to you promptly. Thank you so much for viewing this North Georgia Mountain Market Report. Please check back often to get Sound Advice on North Georgia Mountain Real Estate, and Upcoming Events within our communities.

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