Philadelphia Heights, Pickens County GA: Three-Year Home Sales Data Through 2007

Home sales in Philadelphia Heights neighborhood in Jasper Georgia showed a decline in 2007 from previous years, with only 3 sales reported. Two of these sales were bank owned foreclosure homes, which sold for well below their ask price / market value, which distorts the 12-month average sale price so much as to make it unusable.

A look at 36-month sales data however, gives us 17 sales, at an average sale price between $170,000 and $180,000 (depending on how the foreclosure data is accounted for). Currently there are 9 homes listed in real estate, with a few more for sale by owner (FSBO), so plenty of choice, from a very high inventory level that will take time to liquidate if the previous year's sales numbers are used as a guide.

And inventory is exactly part of the problem. With Pickens County GA home sales off by at least 25% in 2007, the number of homes available for sale has grown considerably, particularly in this price range, leaving many sellers holding the bag.

With interest rates as low as they are as of this writing, there is hope that some buyers on the sidelines may step in, but it may still take something of a reality check on pricing for many sellers in Philadelphia Heights to become competitive in this sluggish market -- especially those that don't have upgrades or top-rate home maintenance to offer as incentives to buyers.

For the latest data on market conditions and homes available in Philadelphia Heights subdivision in Jasper, Georgia, contact Trent Cluley -- Keller Williams Realty.

Sales Data for Houses Sold in Philadelphia Heights: 2005-2007

** This sale price of $110,000 is a foreclosure, sold well below market value. When adjusted for two low-priced foreclosed homes in Philadelphia Heights, average sale price increases to around $177,000.