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Georgia Mountain Market Conditions

Our tracking of Georgia Mountain Market Conditions indicates steadily increasing activity in the Georgia Mountain housing market. The price of homes sold has increased continuly during 2016.  Additionally, the inventory of available homes on the market has decreased with the growing demand.  A new surge in the North Georgia real estate market is definitely in motion!

The following statistical information on Georgia Mountain Market Conditions is derived from Northeast Georgia Board of Realtors® MLS data.

Gilmer County (Ellijay)

In 2013 — The median sold price for homes (511) was $140,000.
Average time on the market was 136 days.
Selling price averaged about 93.6 percent of the asking price. 29.4 percent of residential sales were foreclosures.

In 2014 — The median sold price for homes (540) was $158,000.
Average time on the market was 147 days.
Selling price averaged about 94.4 percent of the asking price. 14.6 percent of residential sales were foreclosures.

In 2015– The median sold price for homes (621) was $174,777.
Average time on the market was 139 days.
Selling price averaged about 94.6% of the asking price.
14.6% of residential sales were foreclosures (50)

In 2016– The average sold price for homes (650) was $206,690.
Average time on the market was 110 days.
Selling price averaged about 95.3% of the list price.

As of March 31, 2017, there were 257 homes on the market. The median price of
homes listed was $229,000. During the Month of March, 54 homes were sold.
The avg price of homes sold was $204800 and the avg days on the market was 98.
The selling price averaged 95.7% of the listing price.

 

Fannin County (Blue Ridge)

In 2013 — The median sold price for homes (483) was $190,000.
Average time on the market was 145 days.

Selling price averaged about 94.1 percent of the asking price. 14.7 percent of residential sales were foreclosures.

In 2014 — The median sold price for homes (600) was $191,500.
Average time on the market was 146 days.
Selling price averaged about 94.9 percent of the asking price. 13.0 percent of residential sales were foreclosures.

In 2015– The median sold price for homes (642) was $234,900. Average time on the market was 164 days. Selling price averaged about 94.7% of the asking price.

In 2016– The median sold price of homes (725) was $269,100. Average time on the
market was 143 days. Selling price averaged about 95.4% of the asking price.

As of March 31, 2017, there were 414 homes on the market. The median price of
homes listed was $329,000. During the month of March, 54 homes were sold. The
average price of homes sold was $268000 and the average days on the market was 166.
The selling price averaged 96 % of the listing price.

 

Union County (Blairsville)

In 2013 — The median sold price for homes (432) was $144,750.
Average time on the market was 176 days.
Selling price averaged about 93.2 percent of the asking price. 18.5 percent of residential sales were foreclosures.

In 2014 — The median sold price for homes (424) was $154,000.
Average time on the market was 154 days.
Selling price averaged about 94.3 percent of the asking price. 15.6 percent of residential sales were foreclosures.

In 2015–The median sold price for homes (466) was $165,000. Average time on the market was 97 days. Selling price averaged about 94.8% of the asking price.

In 2016– The average sold price for homes (536) was $191,600.
Average time on the market was 144 days.
The selling price averaged about 94.7% of the asking price.

As of March 31, 2017, there was 279 homes on the market. The median price of the
homes listed was $250,000. During the month of March, 49 Homes were sold. The
average price of homes sold was $211000 and the average days on the market was 119.
The selling price averaged 96.8 % of the listing price.

 

Towns County (Hiawassee)

In 2013 — The median sold price for homes (200) was $158,000.
Average time on the market was 186 days.
Selling price averaged about 90.9 percent of the asking price. 23.5 percent of residential sales were foreclosures.

In 2014 — The median sold price for homes (230) was $163,750.
Average time on the market was 211 days.
Selling price averaged about 91.9 percent of the asking price. 17.4 percent of residential sales were foreclosures.

In 2015– The median sold price for homes (192) was $150,000. Average time on the market was 96 days. Selling price averaged about 93.7%  of the asking price. 8.1 percent of residential sales were foreclosures.

In 2016– The averaged sold price for homes (277) was $219,650.
Average time on the market was 184 days.
Selling price averaged about 92.6% of the asking price.

As of March 31, 2017, there were 253 homes on the market. The median price of
homes listed was $299000. During the month of March, 19 homes were sold. The
avg price of homes sold was $219,700 and the average days on the market was 202.
The selling price averaged 90.8% of the listing price.

 


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