Make sure you're strapped in tight! Home sales in Fannin County continue their wild roller coaster ride. October 2009 residential sales figures are in, and both number of units sold and median prices are up over last October. This is a break from the trend we saw last month, when the number of sales was up, but prices were down from September 2008.
There were 35 residential sales in Fannin County last month, compared with 22 in October '08. The median price this October was $186,000, almost $26,000 up over last October's $160,450.
An analysis of foreclosure data yields some interesting results: Out of the 35 residential sales last month, 13 (37%) were foreclosures, versus 2 (9%) of last year's sales. The median sale price for foreclosures was $130,000, the median sale for non-foreclosure units was $227,375 -- a 43% price increase!
A further breakdown of the data shows the following:
Price Range # of Units Sold
$0 - $100K 6
$101K - $200K 13
$201K - $300K 8
$301K - $400K 5
$401K - $500K 2
Over $500K 1 ($810,000)
|October 2008||October 2009||Variation|
|Total Units Sold||20||35||+43%|
|Average Days on Market||104||138||+25%|
|Median Sale Price||$160,450||$186,000||+14%|
What can we learn from this month's analysis? I sure wish I knew! I am grateful for the uptick in both sales and prices and would LOVE to think it will be a continuing trend. But, I'm not sure if I feel like the adorable girl in the front of the roller coaster...or the guys in the back!