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Mountain Market Snap shot
The North Georgia Mountains are experiencing part of the housing market rebound. Prices are up about 8 percent in many of our mountain counties. Inventory in the under 200,000 category is Very Very tight. Homes appear and go under contract really quickly.
Thankfully the foreclosure market is shrinking. Last year at this time we had 60-90 homes in foreclosure in the market area. Now we have 15. All indicators are that the market is recovering.
Now we are not moving at the pace of Atlanta or other areas in the country. But then our rate of slippage was not as steep either. The notable exceptions are the great communities of Big Canoe and Bent Tree. Neither of these communities, while experiencing some bounce back, are bouncing back at the rate seen in the surrounding areas. I believe the reason for this is people are either not ready to get back into the second home market or are looking for values without association fees.
What all this means to you as a buyer is there are some great values in our mountains. If you are looking for a mountain experience with amenities as well then the values are really still very good.
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