Is the real estate market recovering? Here’s what’s happening nationally and in North Georgia’s local real estate market. Positive signs are being reported that the real estate pendulum is swinging upwards.
..”No one is anticipating that an upward path for housing will run in a straight-line trajectory. The economy is in an uneven recovery and we can expect some corresponding ups-and-downs in the housing market in the months ahead.
However, the National Association of Home Builders (NAHB) believes that on the whole, we can expect a slow and gradual recovery in housing starts, home sales and the overall housing market in 2012…” Read more: Source: Rismedia April 24, 2012
Have we hit bottom? That’s the million dollar question, isn’t it! Who can say what’s really around the next turn but most leading indicators show that we may very well have. I’m, by no means an economist or fortune teller but I am a dedicated Realtor® who keeps informed of market conditions on a daily basis and I do know that we will shift into another business cycle and when we do, we will start the climb back up. That shift may have already started.
Whether at the bottom or near bottom, now is the time to make some great investments and get in position to ride the market back up. I blogged in the beginning of the downturn (evident in 2007) that we were in a normal business cycle (although, it didn’t feel all that normal and granted the ride down has been severe). Now, I believe we are soon to make the shift into the next normal business cycle which is the ride back up.
Positive signs that real estate markets are improving – see housing market reports listed at the end of this post.
North Georgia Real Estate – Local View
Blue Ridge, Ellijay, Blairsville, Hiawassee and surrounding towns
Total Active Homes – March Year over Year
| MARCH | 2011 | 2012 |
|
9418 |
7743 |
Inventory is low so we anticipate builders to gear up.
Total Closed Sales – March Year over Year
| MARCH | 2011 | 2012 |
| Total |
244 |
227 |
| Fannin |
74 |
42 |
| Gilmer |
54 |
58 |
| Towns |
23 |
22 |
| Union |
44 |
45 |
Sales down slightly overall. The next few months will determine whether this is a trend or just a blip. We saw a decline in sales in Fannin County compared to same time last year. Gilmer and Union had increases and Towns is only off by one closed sale so overall, holding fairly steady. There are 355 sales pending and 164 contingent sales. Some closings may not have been reported at the time this data was collected.
Average Sold Price: $124,57 (down from $138,938 in March 2011)
Foreclosures are down with 92 closed sales (down from 138 closed sales in March 2011)
For the most part, the local market is tracking as expected and the coming months will be important to watch to see what trends emerge.
Source: Northeast Georgia Multiple Listing Service as reported on April 16, 2012 Counties include: Fannin, Gilmer, Towns, Union Georgia, Cherokee and Clay North Carolina and parts of Tennessee
Positive Housing Market Reports
Cape Coral Florida – Prices Up
Florida’s Market Shows Positive Trends
Las Vegas NV – Reports Improvements
Atlanta GA – News not all bad just a slower recovery
For more information or assistance with selling or buying real estate in the North Georgia Mountains, please contact Donna today !
Donna Yates
Associate Broker, GRI
706-633-0644 Mobile
www.move2northgeorgia.net
www.blueridgemountains.activerain.com
email: donna@donnayates.com
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