Housing prices in Blue Ridge and surrounding communities continue their steady march downward. An analysis of year-to-date sales for 2008 shows that the median price for residential properties has dropped 17% over the same time period in 2007, while the total volume sold dropped nearly 35%.
There are currently 605 cabins on the market in Fannin County and many of these are a-MAZING deals! Cabins with amenities like jaw-dropping panoramic mountain views, river or creek frontage, luxe interiors, hot tubs and outdoor fireplaces are available at prices $100,000 to $200,000 less than comparable properties sold for just two years ago.
Cabin prices are not the only things that are declining -- interest rates are creeping downwards, as well. Credit-worthy buyers will find that it is still relatively easy to obtain financing with local lenders.
With a market this sweet, what are you waiting for? Go ahead, take a bite.
1/1/07 - 11/30/07 1/1/08 - 11/30/08 Variation Total Units Sold 378 311 -18% Avg. Days on Market 129 124 -4% Sold Price Average $313,292 $248,708 -21% Median $270,000 $225,000 -17% Total Volume $118,424,433 $77,348,091 -35%
|
|
November 2007 |
November 2008 |
Variation |
|
Total Units Sold |
20 |
20 |
0 |
|
Avg. Days on Market |
86 |
102 |
16% |
|
Sold Price |
|
|
|
|
Average |
$285,016 |
$253,105 |
-11% |
|
Highest |
$275,000 |
$227,500 |
-17% |
|
Total Volume |
$5,700,312 |
$5,062,100 |
-11% |
Comments (4)Subscribe to CommentsComment