Blairsville Georgia Real Estate reVIEWS Category
Union County Residential Market Report March 2011
Union County Residential Real Estate Market Report – March 2011
The Residential Real Estate Market in the Blairsville area of the North Georgia Mountains are still be dominated by Bank Owned Properties For Sale. The Median Sold Price for Homes Sold in Union County was on a steady climb since September of last year according to the data that this report has been compiled from with help from the Northeast Georgia Board of Realtors® MLS. That all came to a screeching halt in February of 2011. Although there were over 2 times the number of units sold, the Median Sold Price dropped 27% from last month, but only 16% from a year ago. The Median For Sale Price has risen slightly from last month, but dropped about 3% from a year ago. Again, the number of Homes Sold in Blairsville, GA. was up 116% from last month, and 7% from a year ago. I believe that all the snow we had in December and January had a lot to do with why our sales were down so much in January.
But why the decrease so much in Median Sold Price? 27% in one month. Well one word…Foreclosures. Bank Owned Properties make up a very small percentage of the Market Share in Blairsville but dominate the sales. If you take a look at the homes sold in February, 20 of them were Bank Foreclosures. That is 57% of House Sales in Union County.
The number of Homes Under Contract has actually dropped a little from last month as well. There were 30 Homes Pending in Blairsville Georgia at the end of February, compared to the 41 that were Under Contract in January. Taking a look at the past year, we can see a somewhat steady climb and an overall 67% increase year over year.
New Real Estate Listings continue to decline mostly in part to New Construction Home starts being down so much. The total number of Residential MLS Listings is down 23% from February 2010. The Average Days On Market or commonly referred to as DOM, was down 13% overall, but was up just slightly to 155 days. Also the Absorption Rate for Union County is down overall 57%, but jumped from 12 months to almost 16 months in February 2011. The Absorption Rate tells us how many months under current market conditions it would take to sell all the Homes For Sale in Blairsville, GA.
Thank you so much for stopping by “The Porch” and visiting. you are welcomed back at anytime. If you have any questions or concerns with anything you have read in this report, or pertaining to the North Georgia Mountain Real Estate Market, please Contact Me and I will be grateful for the opportunity to address them for you.
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Incredible Buy On A Bank Owned Home In Blairsville Georgia
159 Loftis Mountain Blairsville Georgia
Incredible Deal on a Foreclosed Home located in the upscale community of Loftis Mountain convenient to Lake Nottely and Downtown Blairsville, GA.
This Traditional Home has a total of 4,897 Square Feet according to the Union County Tax Assessors website, who also has a total assessed value of $409,978. You do the math, if this home is purchased at FULL PRICE, that is $52.89 a square Foot. Unbelievable!
Please Contact Me if you have any specific questions or concerns with this Home For Sale In Blairsville, GA. I would appreciate very much the opportunity to earn your business, providing you with more value in your North Georgia Mountain Real Estate transaction that you ever could have expected.
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Lake Houses For Sale On Lake Nottely In Blairsville GA
Lake Nottely
There are currently 37 Active Homes For Sale on Lake Nottely. Lakefront Real Estate in North Georgia has been a little slow, as is the case for most Homes For Sale in GA. Within the past 6 months, there has been only 5 Lake Houses Sold on Lake Nottely within our Northeast Georgia MLS Real Estate Listings. The sales have been Cottages For Sale to some more Luxury Real Estate For Sale. Sales Prices have been from $145,000 to $600,000.
If you are looking for Waterfront Properties For Sale in the GA Mountains, please Contact Me. I would be grateful for the opportunity to earn your business and be your Realtor® of choice. If you see a Lake House For Sale On Lake Nottely that you would like additional information, just let me know and I will obtain it for you.
Thank you for viewing this Lake Nottely Real Estate Update.
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Related Article: Unique Lake Nottely Home For Sale
January 2011 Union County Residential Market Report
Union County Residential Real Estate Market Report – February 2011
Homes in Georgia continue to see a decline in Median Sold Prices. Houses For Sale in Georgia are being rocked by Bank Owned Real Estate For Sale. We are not immune to it here in the North Georgia Mountain Real Estate Market either.
The Media Sold Price for Homes Sold in Union County was down another 5% in January 2011. A drop of $7,600 to $144,900. The Median Sales Price for Homes For Sale in the Blairsville, GA. Market was also down 3% to $185,000. The number of Houses Sold in January was down 25%. Only 15 Homes Sold in Blairsville, down 5 from 20 that sold a year ago. Now are you ready for some Good News, there are currently 43 Homes Under Contract in Union County. That is a change of 19 from last year, and a 79% increase. January marks the second highest month for Pending Home Sales in Union County in the past year.
New Real Estate Listings are down 37%. I guess those would-be Seller’s that do not need to sell are listening to their Real Estate Agent. I tell my customers and clients that unless circumstances arise that cause you to sell, now is just simply not the time to Sell Your Ga Mountain Home. The total number of Properties For Sale is down 26% to only 577 Houses.
The Average Days on Market (DOM) is down 8% to 161 Days. This is the number of days on average that it takes to market and Sale Homes In Union County. The Months Supply of Inventory, or better known as the Absorption Rate was 11.2 in January 2011. That is down almost 60% year over year. This is due mostly in part to both the Supply and Demand each being down around 25%.
If you have any questions or concerns about anything that you have read in this report, please Call Me at 706-994-8686, or you can simply Contact Me Here.
Blairsville Realty Fall 2010 Newsletter
Blairsville Realty Fall 2010 Newsletter
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