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Athens, Georgia - Housing Market Picking Up?

Yep, that's so, at least according to the Athens Area Association of Realtors. The last month has shown a significant upturn in listing and buying activities. This mirrors the activity we have seen at the office I work out of, Keller Williams Realty of Greater Athens.

Athens (and it's surrounding areas) has not suffered the same severe downturn in value that some of Georgia and other parts of the country have (yes, it's true, the news isn't all bad out there, no matter what you have read in the papers or seen on tv). Average home sales prices here have risen about 1%, or so, over the last year. Yes, volume has been down, average DOM (days on market) is still high, and, there have been more foreclosures than normal (for this area while not approaching the terrible problems of many areas), but, our home values have still risen. (The presence of the University of Georgia is a great contributor to the stability of the area, helping both employment and housing prices).

Is this just a blip or is this an indication of better times might finally be here again? Too soon to tell for sure, but based upon the increasing levels of activity here, and some better news coming out regarding credit and the sub-prime issues, perhaps that just might be so.

Now, if we could just lower those gasoline prices somehow.

Posted by Mike Saunders on 05/14/2008 07:26 PM

Comments (5)

athens, housing market

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5 Comments on Athens, Georgia - Housing Market Picking Up?

Mike,

It is indeed historically that college towns weather these downturns without significant impact on prices. I love Athens, it's a great town, especially on football Saturdays!

05/14/2008 08:16 PM

by Richard Weisser, Associate Broker, E-Pro ERA United Realty, Auctioneer, CE Author (Coweta Fayette Real Estate, Inc. ERA United Realty)

Richard

I don't have tickets. I stay away from downtown on game day.

This is the first "college" town I have lived in, as opposed to towns with colleges in them. San Francisco, Seattle, Portland all have colleges & universities, but they are not the big "industries" there. UGA is the proverbial big fish in a small pond.

05/14/2008 08:27 PM

by Mike Saunders (Keller Williams Realty - Greater Athens)

Nothing as permanent as cycles in the housing market! The only thing that made this issue so different is that the media and politicians pounced on it with such fervor. Glad to hear that there is a glimmer of optimism at your end. Jerry

05/15/2008 12:13 PM

by Jerry Bangerter (RE/MAX Kai Lani)

Mahalo, Jerry, for responding to my post. Sometimes it's the location, location, location (as where you are working out of) can be such a comfort during down times. Always looking forward to pao hana.

05/15/2008 03:29 PM

by Mike Saunders (Keller Williams Realty - Greater Athens)

Do detect a little Hawaii in your background? Location, Location, Location is always the name of the game. Mahalo for your comment. Jerry

05/17/2008 05:37 PM

by Jerry Bangerter (RE/MAX Kai Lani)