We all have our tales to tell of "the one that got away." The fish--or the deal--that was within our grasp and we let it slip away.
The current real estate market in Blue Ridge is going to generate a lot of "the one that got away" tales of woe. NOW is the time to buy. Wait at your peril!
Using a year-to-date comparison, the median price of homes fell 17% compared to the same time period in 2007. (I am using median price, because a few high end sales tend to skew the average price.)
However, if you compare August of 2007 with August of 2008, the median price differential is less than one percent.
What this tells me is that prices are continuing the stabilizing trend of the past few months.
NOW is the time to get some incredible deals on incredible properties.
Don't let this time of great opportunity slip through your fingers or you may wind up lamenting "the one that got away."
| Fannin County Residential Sales | |||||||
| 1/1/07 - 8/31/07 | 1/1/08 - 8/31/08 | Variation | Aug-07 | Aug-08 | Variation | ||
| Total Units Sold | 279 | 239 | -15% | 42 | 28 | -33% | |
| Average Days on Market | 124 | 128 | 1% | 92 | 93 | <1% | |
| Sold Price | |||||||
| Average | $ 318,709 | $ 252,438 | -21% | $ 291,501 | $ 316,154 | 8% | |
| Median | $ 270,000 | $ 224,500 | -17% | $ 247,500 | $ 247,000 | <1% | |
| Highest | $ 2,900,000 | $ 1,370,750 | -53% | $ 1,565,000 | $ 1,370,750 | -12% | |
| Total Volume | $ 88,919,946 | $ 60,332,691 | -28% | $12,243,037 | $ 8,852,325 | -28% | |
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