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North Georgia Blue Ridge Mountain Market Watch February 2008

By
Real Estate Agent with BHGRE - Metro Brokers

North Georgia Blue Ridge Mountains Market Watch 2008
Fannin, Gilmer, Union, Towns and Pickens Counties


Single Family Residential Homes Sales for February

 

For all counties combined as of March 8, 2008 - There are 2837 active, contingent and 141 pending homes on the market.  The average list price is $336,286 and prices range from $8500 up to $3,500,000.

Please note:  Statistics below are only for one month (February 08) compared to (February a year ago) - these are not year to date statistics. 

Fannin County  (Zip Codes) Blue Ridge 30513; Morganton; 30560; Mineral Bluff 30559; Epworth 30541;
                                          McCaysville 30555


There are 801 active, contingent and 24 pending homes on the market.  The average list price is $376,210 and prices range from $49,900 to $3,500,000. 

The number of homes sold in February 2008 is 26 with an average list price of $203,738 and an average sold price of $192,706.  Average days on the market were 106 days. (As of March 8, 2008)

                                February 2008                                             February 2007

Average List Price:

$203,738

Average List Price:

$302,626

Median List Price

$187,450

Median List Price

$285,000

Average Sold Price

$192,706

Average Sold Price

$287,174

Median Sold Price

$179,825

Median Sold Price

$270,000

# Units Sold

26

# Units Sold

27

Days on Market

106

Days on Market

115

Sold to List

94.59%

Sold to List

94.89

Sold to Original

89.64

Sold to Original

90.6

 

 

 

Gilmer County  (Zip Codes) Ellijay 30536, 30540; East Ellijay 30539, Talking Rock 30705


There are 797 active, contingent and 53 pending homes on the market.  The average list price is $294,662 and prices range from $8500 to $2,737,777. 

The number of homes sold in February 2008 is 21, with an average list price of $267,357 and an average sold price of $252,542.  Average days on the market were 126 days.  (As of March 8, 2008)

                                 February 2008                                            February 2007

Average List Price:

$267,357

Average List Price:

$201,350

Median List Price

$294,500

Median List Price

$179,900

Average Sold Price

$252,542

Average Sold Price

$190,444

Median Sold Price

$239,480

Median Sold Price

$179,500

# Units Sold

21

# Units Sold

42

Days on Market

126

Days on Market

125

Sold to List

94.46%

Sold to List

94.58%

Sold to Original

89.85%

Sold to Original

92.89%

 

 

 

Towns County  (Zip Codes) Hiawassee 30546; Young Harris 30582


There are 390 active, contingent and 7 pending homes on the market.  The average list price is $403,190 and prices range from $39,900 to $2,899,900. 

The number of homes sold in February 2008 is 10, with an average list price of $275,710 and an average sold price of $251,200.  Average days on the market were 244 days.  (As of March 8, 2008)  

                               February 2008                                            February 2007

Average List Price:

$275,710

Average List Price:

$305,393

Median List Price

$239,200

Median List Price

$279,900

Average Sold Price

$251,200

Average Sold Price

$282,233

Median Sold Price

$206,750

Median Sold Price

$260,000

# Units Sold

10

# Units Sold

15

Days on Market

244

Days on Market

205

Sold to List

91.11%

Sold to List

92.74%

Sold to Original

83.98%

Sold to Original

88.53%

 

 

 

Union County  (Zip Codes) Blairsville 30513, 30514


There are 649 active, contingent and 53 pending homes on the market.  The average list price is $309,765 and prices range from $45,000 to $1,749,777. 

The number of homes sold in February 2008 is 17, with an average list price of $247,493 and an average sold price of $226,224.  Average days on the market were 162 days.  (As of March 8, 2008)  

                               February 2008                                            February 2007

Average List Price:

$247,493

Average List Price:

$204,138

Median List Price

$274,900

Median List Price

$199,000

Average Sold Price

$226,224

Average Sold Price

$191,512

Median Sold Price

$220,000

Median Sold Price

$185,000

# Units Sold

17

# Units Sold

21

Days on Market

162

Days on Market

117

Sold to List

91.41%

Sold to List

93.82%

Sold to Original

85.09%

Sold to Original

90.32%

 

 

 

Pickens County  (Zip Codes) Jasper 30143; Talking Rock 30175


There are 200 active, contingent and 35 pending homes on the market.  The average list price is $298,054 and prices range from $66,900 to $1,950,000. 

The number of homes sold in February 2008 is 8, with an average list price of $169,038 and an average sold price of $177,400.  Average days on the market were 160 days.  (As of March 8, 2008)  

                               February 2008                                            February 2007

Average List Price:

$169,038

Average List Price:

$205,636

Median List Price

$177,400

Median List Price

$199,000

Average Sold Price

$159,788

Average Sold Price

$197,209

Median Sold Price

$162,250

Median Sold Price

$185,000

# Units Sold

8

# Units Sold

11

Days on Market

160

Days on Market

49

Sold to List

94.53%

Sold to List

95.9%

Sold to Original

91.75%

Sold to Original

95.9%


 

 

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Donna Yates, Georgia Realtor primarily serving the North Georgia Blue Ridge Mountains located in Blue Ridge, Georgia.  Donna is dedicated to the real estate profession full-time and is ready to help home buyers nationwide.  Want to market your property, need buyer representation?  Email:  Donna@ellijay.com   Call 706-633-0644 cell or 706-946-7111 office   Visit Donna's website to view great mountain properties:  www.move2northgeorgia.net

Comments(10)

Kim Southern- "Sold" with Southern Hospitality
Century 21 In the Mountains - Ellijay, GA
Greetings from the North Georgia Mountains!

Great analysis, Donna...Those price differentials in Fannin County are pretty scary!! Please tell me you have the columns switched! 

Kim

Mar 09, 2008 09:42 AM
Donna Yates
BHGRE - Metro Brokers - Blue Ridge, GA
Blue Ridge Mountains
Kim:  It is what it is.  Check CTI and you will get the same numbers.  The columns are not switched. There has definitely been a change in our market in the past year and these numbers prove that.  Keep in mind those figures are for February 08 compared to February 07 only.  Not for the entire year.
Mar 09, 2008 12:27 PM
Kim Southern- "Sold" with Southern Hospitality
Century 21 In the Mountains - Ellijay, GA
Greetings from the North Georgia Mountains!

Oh...that makes more sense then, if it was Feb. to Feb.  Plus, when you are only talking about 26 sales for the month...one or two exceptionally large (or small) sales can skew the figures.  Looks like the sale on Old Toccoa in 2007 for $1,330,000 did just that.

Thanks for the clarificaiton, and, again, nice analysis. 

Kim 

 

Mar 09, 2008 04:31 PM
Donna Yates
BHGRE - Metro Brokers - Blue Ridge, GA
Blue Ridge Mountains
Kim:  That's right.  You read my mind because I was going to go back and look at the price ranges in Feb 07 compared to price ranges in Feb 08.  That's what makes the difference but you've already checked it out, sounds like.  What impressed me the most is that our sales in Feb 08 was just one short of Feb 07!  Sounds like good news to me.
Mar 09, 2008 04:36 PM
Kim Southern- "Sold" with Southern Hospitality
Century 21 In the Mountains - Ellijay, GA
Greetings from the North Georgia Mountains!

Donna: After I had typed the line about one or two sales being able to skew the results, I got curious...so then I had to go in and check. 

Yes...I think that IS good news.  Business seems to be picking up.  Alleluia!!

 

P.S. My graphic says "love-in-a-mist"...AR is getting very creative!

Mar 10, 2008 09:39 AM
Yolanda Hoversten
Self Employed - O'Fallon, IL
Referrals for O’Fallon, IL & the Metro East

Hello, Donna!  Wow, this is quite an analysis and I'm sure it took many hours to put this together.  How do you find the time?  Thank you for sharing, I'm sure your readers appreciate this kind of info about your local market.  How does the stat compare with the same period last year?

Mar 10, 2008 03:36 PM
Jim Crawford
Long & Foster - Fredericksburg, VA
Jim Crawford Broker Associate Fredericksburg VA
Very good report!  Well done and put together!
Mar 10, 2008 03:49 PM
Donna Yates
BHGRE - Metro Brokers - Blue Ridge, GA
Blue Ridge Mountains

Kim:  The sky isn't falling after all.  The media got it wrong.  I am very encouraged about our market. 

Yolanda:  It does take some time to pull the stats together but well worth it.  You asked about the same time last year but that is included in the post if you want to take another look.  I am comparing Feb 08 to Feb 07.  Thank you for your comment.  So very good to have you back!

Jim:  Thank you for your comment.  That means a lot coming from someone with your expertise.

Mar 11, 2008 01:39 PM
Tom Plant
WINEormous.com - Murrieta, CA
Donna - Nice comprehensive market report. Our market is taking off like a rocket here. I'm busier than I have been in a year.
Mar 26, 2008 03:49 AM
Donna Yates
BHGRE - Metro Brokers - Blue Ridge, GA
Blue Ridge Mountains
Tom:  That is really great news about your market!  Looks like things are improving in several places.  Feb and Mar have been busier here than the same time last year.
Mar 26, 2008 08:27 AM