The following charts show the month to month residential real estate sales volume of the Greater Athens Ga metropolitan area for the months of Sep 2009 through Oct 2010. Sales volume of residential real estate has decreased in October after a small increase in September. The October decrease of 9 units is a month to month drop of just under 10% from September and a decrease of over 24% from the same period last year. The decrease from last year may be attributable to an increased number of purchases in Oct. 2009 by buyers taking advantage of tax credits that were expire at the end of last November.
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. Volume may continue to be lower for the rest of the year because of the effect of the tax credits offerred last year. The real story will be told next year. The economy seems to be, if not improving, no longer deteriorating and consumer confidence is rising slightly. Whether or not that will translate into increased sales volume remains to be seen.
Chart 1
The total number of residential units sold in Oct 2010 was 93 units, down from 99 in September. The average days on market did have a slight decrase of 3 days down to 177 days from 180 days in September.
Chart 2
Chart 2 shows that average prices have increase from September to an average price of $180,850.00 to its highest all year. The median sales price also rose to $146,900, close to its high this year. These prices are close to where they were last year. Sales prices, both average and median, are also dependant upon the recovery of the economy and an increase in jobs and employment.
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)Subscribe to CommentsComment