The following charts show the month to month residential real estate sales volume of the Greater Athens Ga metropolitan area for the months of Nov 2009 through Dec 2010. Sales volume of residential real estate has increased 6 units in December after increasing 15 units in November. The December increase is a month to month increase of over 5.7% from November and a year over year increase of 20.9% from Dec. 2009. While still below the highs for the year, which is to be expected, two consecutive months of increasing volume couple with an increase over last year's same period volume are positive signs for the Athens market.
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 might decrease in January 2011due to normal seasonal activity. However, if it vollows the regular trends, should pick up in the following months. The real story will be told as 2011 unfolds. 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 Dec 2010 was 111 units, up from 105 in November . The average days on market did have an increase of 3 days, from 166 in November to 169 in December. This is the second consecutive month with an increase in D.O.M.
Jackson County, which had the highest increase in residential unit sales in November, had a loss of 7 units. Oglethorpe and Madison County both had increases of 4 units while Oconee and Clarke Counties also had increases.
Chart 2
Chart 2 shows a decline in the average sales price from Novbember. This is the second straight monthly decline although not as steep as in November and makes the December average the lowest in over a year. The median price did increase from November. This is most likely due to the high percentage of sold properties, 43%, being bank ownded (REO & foreclosures) and short sales, Sales prices going forward, 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).
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