Bent Tree Georgia Home Sales Data through October 31, 2007

Statistics for the neighborhood of Bent Tree in Jasper, Georgia -- when looking at homes for sale and homes sold for the 12-months ending October 31, 2007 -- reflect a large decline in year-on-year closings.  But how serious is this decline?

The total number of houses sold in Bent Tree dropped to 45, from the previous year's 74 -- a drop of approximately 40%.  This however, may not be as bad as it sounds.

For one thing, 45 homes sales thus far in 2007 merely reflects a return to 2005 numbers of 46 houses sold during the same period.  For another, the average number of days on market (DOM) has actually fallen nearly 26% percent during this time to 95 days, which is naturally a good thing for those trying to sell a home.

Six-month and three-month historical data shows no recent increase in the slow down, with home sales keeping about the same pace for each quarter of the twelve-months in question.

Finally, the average sale price of houses in Bent Tree has shown consistent price appreciation over the past two years, growing from $203,127 in 2005, to $217,844 for the same period in 2006, and $250,958 through October '07 (up 7.25% and 15.2% respectively).

A further interesting number is the ratio of list price to actual sale price, which has stayed fairly steady in the vicinity of 94% for the past three years.  This suggests less an issue of market pressure on sellers to lower their list price, than the likelihood that many homes are just incorrectly priced to begin with. (For Pickens County homes in general, this number has been only recently been forced down to below 96% by slow sales, whereas it had been closer to 97% before).

Taking all these factors under consideration, any weakness in Bent Tree home sales would appear only a temporary issue.  Underlying fundamentals still seem fairly solid, with Bent Tree's selection of features and amenities ensuring its continued popularity -- as indicated by Bent Tree's market share of more than 10% of all Pickens County home sales YTD.

Any improvement in the Florida market will undoubtedly be reflected in Bent Tree. 

One piece of data on which to keep an eye is inventory.  As it stands right now, it would take approximately 21-months to liquidate all homes currently listed in real estate in Bent Tree.  This is higher than the county average, and at a time of year when there are generally fewer homes on market than other times of year anyway.  For home sellers, pricing appropriately is critical in the face of such elevated competition -- particularly with additional listings likely to appear in the spring.

For the most recent information and updates on market conditions and homes available in Bent Tree, contact Trent Cluley -- Keller Williams Realty.