Georgia Mountain Market reVIEWS Category
North Georgia Mountain Residential Market Update October 2011
This Mountain Market Minute Edition is for Residential, Single Family Detached Sales covering Fannin, Gilmer, Towns, and Union Counties in the Mountains of North Georgia. The data compiled in this North Georgia Mountain Real Estate Market Report is taken from the Northeast Georgia Board of Realtors® MLS.
If you have any questions or concerns with any information in this Market Report, or if you would like any additional information on any property of interest in the North Georgia Mountains, please Contact Me or simply pick up the phone and call me at 706.994.8686 or email at [email protected]
Lake Nottely Real Estate Market Report August 2011
It is Labor Day 2011, and Real Estate has been good on Lake Nottely this year. There are 5 Homes on Lake Nottely currently Under Contract. Should they close, we could have more than 20 Homes Sold on Lake Nottely this year. Compared to only 8 all of last year, I would say that is pretty good. There has been 14 Homes and 1 RV Sold on Lake Nottely year-to-date.
There were 8 Homes Sold on Lake Nottely in 2010. The Median Sold Price was $349,250. The highest priced home sold was $642,396, and the lowest was $137,000. They sold at and average of 76% of the original List Price and was on the market an average of 235 Days. In 2011, there have been 14 homes that have sold and closed. The Median Sold Price is currently $360,000 with the highest sale this year being $660,000 and the lowest being $180,000. Homes have been selling this year at 78% of original list price with an average of 240 Days On Market. So even with all of the Foreclosures and Bank Owned Properties that have plagued not only Lake Nottely Home Values, but all Homes of Blairsville Georgia, we have still seen a rise in Average Sales Prices.
Sales of Lake Front Lots on Lake Nottely have not been as favorable as Residential Sales, at least according to the numbers derived from our Northeast Georgia Board of Realtors® MLS. So far this year there has only been 7 Lot Sales. The Median Sold Price for those lots has been $102,888. The highest priced Lake Nottely Front Lot sold this year was $217,500, and the lowest was $64,286. The Average Days On Market is currently 268 days with Lots selling at 60% of Original Listing Price. There has been many Bank Owned Lake Front Lots that have sold, as well as Investors who have sold Lake Nottely Lots at auction. I do not have the numbers on those sales.
If you would like to see all current Homes For Sale On Lake Nottely, please click the link below.
HOMES FOR SALE ON LAKE NOTTELY
If you are interested in a Lot For Sale On Lake Nottely, please click the link below.
LOTS FOR SALE ON LAKE NOTTELY
If you have any questions about this North Georgia Mountain Real Estate Market Report, please feel free to Contact Me and I will be more than happy to answer your questions. If I do not know the answer, I will find the answer. I hope you have a wonderful Labor Day, and hopefully it is being spent in the Mountains of Georgia.
Related articles
- New Price On Nice Lake House For Sale On Lake Nottely (thefrontporchview.com)
- New Foreclosure For Sale In Blairsville GA Bordering U.S.F.S. (thefrontporchview.com)
- Lake Chatuge August 2011 Market Report (thefrontporchview.com)
Are North Georgia Mountain Home Values On The Rise?
Has housing turned the corner for good?
The June 2011 Case-Shiller Index reading posted strong numbers across the board, with each of the index’s 20 tracked markets showing home price improvement from May.
Some markets — Chicago and Minneapolis — rose as much as 3.2 percent.
The rise in values is nothing about which to get overly excited, however. The Case-Shiller Index is just re-reporting what multiple data sets have already shown about the summer housing market; that it was stronger than the spring market, and that a recovery is underway, but occurring locally, at different rates.
For example, the June 2011 Case-Shiller Index shows the following :
- Denver, Dallas, Washington D.C., and the “California Cities” bottomed in 2009. Each has shown steady improvement since.
- None of the Case-Shiller cities showed negative growth between May and June 2011.
- 12 of Case-Shiller’s tracked cities have improved over 3 consecutive months.
The answer to the question is YES. For the past 90 days Home Values are on the Rise. Here in the North Georgia Mountains, our communities of Ellijay, Blue Ridge, Blairsville and Hiawassee has seen Home Values as a cumulative average drop 2% over the past year. However, since June of 2011, our Residential Real Estate Market has experienced a surge of nearly 14% in Median Sold Price. See Full Report Below.
North Georgia Mountain August 2011 Median Sold Price Report
In isolation, these statistics appear promising, but it’s important to remember that the Case-Shiller Index is a backward-looking data set, focusing on just a portion of the national housing economy.
As an illustration, the Case-Shiller Index’s “national report” only includes data from 20 cities nationwide. They’re not the 20 biggest cities, either. Smaller metropolitan areas such as Minneapolis (#48) and Tampa (#51) are included.
Larger ones including Houston (#4), Philadelphia (#5) and San Jose (#10) are not.
In addition, the Case-Shiller index fails to track sales of condominiums, multi-unit homes and new construction. In some markets, including Chicago, these excluded home type can represent a large share of the overall market.
The Case-Shiller Index is a fine data set for policy makers and economists. It describes the broader housing market and shows long-term trends. For the individual home buyer in Hiawassee , however, it’s much less useful. More than “broad data”, you want focused data that’s current and relevant.
The best place for data like that is a local real estate agent.
Related articles
- Home Values Climb Rise Slightly Nationwide In April (thefrontporchview.com)
- Buyer Opportunities Open With Pending Sales Slipping (thefrontporchview.com)
Lake Chatuge August 2011 Market Report
Lake Chatuge is a TVA Lake which straddles the mountains of North Georgia and Western North Carolina. This is a Real Estate Market Report showing data compiled from the Northeast Georgia Board of Realtors MLS in both Clay County, NC. and Towns County, GA.
Year to date, there has been a total of 9 Homes Sold on Lake Chatuge. Currently there are 6 Homes Under Contract or Pending at the present time. In 2010, there were 17 Homes Sold on Lake Chatuge. Prices continue to drop on homes that have sold. In 2010, the average sales price was $563, 853. The lowest price sold was $220,000, and the highest price sold was $1,250,000. The average days on market was 298 days with resulting in 68% of the Original List Price. In 2011, of the 9 Homes Sold, the average sales price has been $42,533. The good news for sellers is that they are taking a little less time to sell and the sales price is holding closer to original list at 77%. There are currently 54 Homes For Sale on Lake Chatuge.
This data is for Single Family Detached Homes Only
Year to date, there has been only 3 Lakefront Lots Sold on Lake Chatuge. There are currently 5 Lots that are Under Contract. In 2010, there were 12 Lots Sold on Lake Chatuge. In 2010, the average sales price was $222,292. The lowest priced lot sold was $60,000, and the highest price sold was $320,000. The average days on market was 313 days yielding on 67% of Original List Price. There are currently 52 Lakefront Lots For Sale on Lake Chatuge.
New Upscale Foreclosure For Sale In Blairsville GA
262 Old Birch Court Blairsville Georgia from Chad Lariscy on Vimeo.
262 Old Birch Court, Blairsville, GA. 30512
NEW Foreclosure For Sale in Blairsville, GA. that hasn’t even hit the Market! See it here on The Porch before anyone else. Nice Traditional Home in an upscale community outside of Blairsville. 4 Bedrooms, 3 Bath Home with a Full Unfinished Basement.
If you would like to see a Full 7 Minute Virtual Showing or Walk-Thru Video, please Contact Me and I will email it to you.If you have any questions or concerns about this property, please do not hesitate to Email or Call me. If I do not know the answer, I will research it and get the answer for you.
If you or someone you know is actively searching for a Foreclosure here in the North Georgia Mountains and see one of interest on the internet but can’t get to the Mountains, call me at 706-994-8686 and I will go and shoot a Virtual Showing for you.
Related articles
- Foreclosure For Sale Near Old Union Golf Course (thefrontporchview.com)
- Monthly Foreclosure Count Continue To Drop (thefrontporchview.com)
