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Greater Athens Area Residential Real Estate Sales Volume Drops in June After 4 Straight Months of Rising Volume - Residential Real Estate Montly Statistics Charts, July 2009 - July 2010

By
Real Estate Agent with Retired

The following charts show the month to month residential real estate sales volume of the Greater Athens Ga metropolitan area for the months of July 2009 through July 2010. Sales volume of residential real estate has decrease in July for the second consecutive month. The July decrease of 37 units is a drop of over 22-1/2% from June and a decrease of over 41% than the same period last year.

The largest drops in volume were in Athens-Clarke County, accounting for almost 75% and Oglethorpe County, with Jackson County and Watkinsville showing small decreases. Oconee County and Madison County both had increased sales volume.

Chart 1 shows the trends for both the number of residential units sold and the average number of Days on Market (D.O.M.) for residential units sold. After peaking for the year in May, sales volume has declined in June & July, more steeply in July. These declines are probably due to buyers accelerating their purchases to close before June 30 in order to take advantage of the federal income tax credits available. How long this impact will last remains to be seen and is probably going to depend more upon a recovery in employment than anything else this year.

Athens Ga Area Sale Volume & Days On Market Chart - June 2009 - July 2010 by Mike Saunders

Chart 1

 The total number of residential units sold in July 2010 was 127 units, down 37 units, over 22-1/2%, from June. The average days on market did have a very large increase of 24%. Much of this increase, though, is more than likely due to the extended closing times of homes with contracts signed at the end of April in order to be eligible for the tax credit. At the end of July there were 220 units under contract to sell.

Athens Ga Area Real Estate Price Chart July 2009 - July 2010 by Mike Saunders

Chart 2

 Chart 2 shows that average prices have remained virtually flat with June at $177,684. However, the median sales price has shown a drop to $141,500 or almost 9%. The average sales price is still at the highest levels of tghe year. Whether or not this is a trend will depend upon whether these prices remain at this level of higher for July and beyond.

The Greater Athens Metropolitan area, for this report, includes Athens-Clarke County, Oconee County, Oglethorpe County, Jackson County and Madison County. All chart information is derived from data in the Athens Area Association of Realtors® multiple listing service (MLS).

For more information about real estate in the Athens, GA area, or, if you are looking to buy or sell real estate in the Athens Ga area and surrounding counties, please call me at 706-207-5290, or, you can click to email me at athensrealestate@earthlink.net with any questions. To search for homes, land and other real estate in the Athens Ga area please visit my website, www.The Athens Real Estate Page.com .

Comments (1)

Barb & Sal Dragotta
Macomb, MI
Macomb County Michigan

Mike....these are very interesting charts for your / that area.  More than likely, most areas will see or have seen  somewhat of a drop in sales after 30 April, due to the deadline.  Hopefully your area will continue to see a rise in sales that are not related to any program of the Congress / White House--those are the sales that may indicate just where we are headed in this country in this economy.  Good luck for non-subsidized sales in your stomping grounds.  

Aug 23, 2010 02:14 PM