Home > Blogs > Donna Yates > https://activerain.com/blueridgemountains

North Georgia Blue Ridge Mountains Year End 2009 Real Estate Market Report

By Donna Yates

Real Estate Agent with BHGRE - Metro Brokers

January 08, 2010 07:32 PM

2009 Year End Market Report - as of January 9, 2010 (Fannin, Gilmer, Union and Towns)

Fannin County (Blue Ridge, Morganton, Epworth, McCaysville, Mineral Bluff, Aska)
Active: 1904 Total     Residential: 672   Commercial: 59   Lots/Acreage: 1167
Contingent: 31
Pending: 50
Foreclosures: 137
Sold: YTD 2009 = 506   YTD 2008 = 481

Gilmer County (Ellijay, East Ellijay, Cherry Log)
Active: 1993 Total     Residential: 590   Commercial: 42   Lots/Acreage: 1361
Contingent: 15
Pending: 55
Foreclosures: 80
Sold: YTD 2009 = 451   YTD 2008 = 508

Union County (Blairsville)
Active: 2124 Total     Residential: 596   Commercial: 59   Lots/Acreage: 1465
Contingent: 19
Pending: 40
Foreclosures: 76
Sold: YTD 2009 = 453   YTD 2008 = 409

Towns County (Young Harris, Hiawassee)
Active: 1271 Total     Residential: 392   Commercial: 29   Lots/Acreage: 848
Contingent: 14
Pending: 10
Foreclosures: 52
Sold: YTD 2009 = 177   YTD 2008 = 203

TOTAL - all counties combined listed below  - As of January 9, 2010
Fannin, Gilmer, Union, Towns

                      Year End 2009              Year End 2008
Total Closed:    1587                           1601
Residential:      1162                           1137
Land:                409                             432
Commercial:        16                             32
Out of total, # Foreclosures:     426                               95

                                                                               Year End 2009     Year End 2008
Completed New Construction - Sold - List to Sales Price: 90.25%               92.51%
Under Construction - Sold - List to Sales Price:               90.78%               94.41%
Re-Sale - Sold - List to Sales Price:                               90.72%               91.68%

Actual "Sold" Breakdown by Price Points (Closed)
Year End 2009 Year End 2008

$199K and below
$200k to $299999
$300k to $399999
$400k to $499999
$500k to $599999
$600k to $699999
$700k to $799999
$800k to $899999
$900k to $999999
$1mil or more

689   257 foreclosures
314      58 foreclosures
101        9 foreclosures
42         2 foreclosures
14         0 foreclosures
10         0 foreclosures
   2         0 foreclosures
   2         0 foreclosures
   1         0 foreclosures
   8         0 foreclosures

611    67 foreclosures
325    14 foreclosures
113     3 foreclosures
27     1 foreclosure
10     1 foreclosure
    5     1 foreclosure
    3     0 foreclosures
    5     0 foreclosures
    2     2 foreclosures
    6     0 foreclosures

Key Notes:

$199,999 or below remains the hottest price point with sales dropping more than one half in the next highest price point of $200k to $299,999

Can easily see that the number of foreclosed properties for sale increased in 2009 with more than 25% of total properties closed were foreclosures compared to less than 6% in 2008

Actual Properties Sold: UP in Fannin and Union County; DOWN in Gilmer and Towns in 2009 compared to 2008

Increase in number of foreclosures for sale in 2009 compared to 2008

Sold to List Price down slightly across the board in 2009 compared to 2008

All information is deemed accurate but is not guaranteed Source: Northeast GA Multiple Listing Service

Donna Yates, Georgia Realtor
Coldwell Banker High Country Realty
706-633-0644 cell
706-632-7311 x252 office
www.move2northgeorgia.net
donna@ellijay.com

Re-Blog

Comments(5)

Comment

Show All Comments

Sort:

Yolanda Hoversten

Self Employed - O'Fallon, IL

Referrals for O’Fallon, IL & the Metro East

Hi, Donna! It seems like one area sales is up, the neighboring area sales is down in the same board! That's what it's like where I'm at. I guess what we're looking for is the trend of most cities to have increased sales. Fortunately, the total inventory in our two boards are down. Hope that is the same in yours, Donna. Have a wonderful week!

Jan 10, 2010 11:24 AM

Fred Carver Real Estate Consulant

Retired BC Realtor - Victoria, BC

Accredited Real Estate Consultant

Hi Donna... Great YTD market report, looks like many of the areas are ahead of 2008, and many of the homes are selling under$200,000. Wow, Buyers should call you before home prices move up.

Cheers

Jan 17, 2010 02:07 AM

Donna Yates

BHGRE - Metro Brokers - Blue Ridge, GA

Blue Ridge Mountains

Hi Fred: Yes, I think we are turning the corner here in my market area. Of course, we still have a long way to go and it will be quite some time before we see the kind of market we had in 2005/06 but the last 6 months of 2009 saw a respectable upswing and we are optimistic about 2010. With tax credits extended until the end of April, interest rates still low, buyers should be jumping off the fence.

Jan 18, 2010 12:50 PM

Team Gagliardi Daytona Beach Real Estate

Re/Max Signature - Daytona Beach, FL

Wow, Donna, you're the bomb on the North Georgia Blue Ridge market! You've got my referrals with that much knowledge!!!

Jan 21, 2010 08:59 AM

Janis, Marty and Mike: Thank you very much for such a nice comment. I do monitor the market very closely and my broker is just wonderful about keeping us current at our monthly sales meetings.

Jan 21, 2010 11:29 AM

North Georgia Blue Ridge Mountains Year End 2009 Real Estate Market Report

Comments(5)

Donna Yates

Service Areas

Recent Posts