Athens, GA

The English Team had a fabulous time participating in the charity "Chili Contest" fundraiser at Gamma Phi Beta on the University of Georgia campus. Gamma Phi Beta supports Childrens Miracle Network and a local Cancer support goup, Clute Barrow Nelson Life Foundation,Inc.

Hairy the Dawg is checking out Tim's pot of Chili. Our "secret" ingredient was spicy Pumpkin Pie mix. The result was interesting but we were beat out by even more imaginative chili cookers.

Hannah and the other pledges at Gmma Phi Beta had a great time and it was fun to be part of such a well run events. Kudos to the girls at Gamma Phi Beta for such a well organized and well attended event. Hope you raised a bunch of money for the deserving charities you represent.

Recently, we were looking for something to do on a hot afternoon in Athens and came up with a couple of fun ideas.

First, we visited the newly reopened Georgia Museum of Art over on the East Campus of the University of Georgia. Previously, we had seen several special exhibits there, but they did not have room to display many of their own collection. With a beautiful new addition, there are a number of paintings now on permanant display.

Then we headed on over to the State Botanical Gardens located on South Milledge Avenue. They were having a special exhibit of garden gates which were fun to discover. We even ventured outside of the conservatory in spite of the heat to see some of our favorite gardens.

The Conservatory at the botanical gardens

Blue garden gate

Huge Angel Trumpet

Orchids are among my favorites

OK, I promise that this is the last orchid I pictured

The Heritage Garden has examples of early crops grown in Georgia as well as some heirloom varities.

This fountain almost makes you feel cool on a hot summer afternoon.

This plant that reminds me of Christmas was not labeled. Can anyone identify it?

This bird house was covered with a purple hyacinth bean.

The following charts show the month to month residential real estate sales volume of the Greater Athens Ga metropolitan area for the months of May 2010 through June 2011. Sales volume of residential real estate was up again in June over May marking the fifth consecutive month of rising volume. National figures showed a decrease in sales volume in Jue. The June 2011 volume is up a whopping 21% from May 2011 and a very strong 12% over June 2010 sales volume marking the first year to year increase in over a year. This continued volume increase is probably driven by several factors including the number of bargains on the market and a slightly positive increase in perception of the economy.

Chart 1 shows the trends for both the number of residential units sold and the average number of Days on Market (D.O.M.) for residential units sold. June 2011 volume had a 32 unit increase over May. Again, if fuel and food costs have not been rising significantly this might have been higher. Also, while there are jobs being created, the unemployment rate is not dropping significantly. And only a strong increase in employment will really be able to sustain and grow the real estate market. However, the uncertainty in the stock market due to the debt ceiling issues and the credit rating of the U.S. may have an impact on coming months sales.

Chart 1

Residential Units Sold and Days on Market in the Athens MSA

The total number of residential units sold in June 2011 was 183 units, up from the 151 units in May 2011. While Athens-Clarke County and Oconee County accounted for all of the increase in volume. Madison County was flat while Jackson and Oglethorpe Counties had decreases in sales volume. The average days on market also showed a positive trend decreasing from 189 to 185 days. However, only Athens-Clarke County and Jackson County showed a decrease in D.O.M while the other areas had increases.

There were 202 residential properties under contract and pending closing in the area at the end of June, down from the 240 under contract at the end of May. Residential properties include single family homes, condos, townhomes, mobile homes and modular homes.

Chart 2

Residential Average & Median Sales Prices in the Athens GA MSA

Chart 2 shows an increase in the average sales price however the median sales prices did decline May 2011. Athens-Clarke County and Oglethorpe County experienced increases in sales prices while Oconee, Jackson and Madison Counties experienced decreases. Oglethorpe and Madison Counties experienced increases in median sales prices while Oconee, Jackson and Athens-Clarke Counties showed decreases. At the risk of sounding repetitive, sales prices going forward, both average and median, continue to be dependant upon the recovery of the economy and an increase in jobs and employment and are subject to the same risks from increasing fuel prices as sales volume is. They are also going to be affected by the number of REO (bank owned foreclosures) and Short Sale properties on the market.

The Greater Athens Metropolitan area, for this report, includes Athens-Clarke County, Oconee County, Oglethorpe County, Jackson County and Madison County. All chart information is derived from data in the Athens Area Association of Realtors® multiple listing service (MLS).

The following charts show the month to month residential real estate sales volume of the Greater Athens Ga metropolitan area for the months of Apr. 2010 through May. 2011. Sales volume of residential real estate was up again in May over April marking the fourth consecutive month of rising volume. The May 2011 volume, is up just under 5% from Apr 2011 but is still down more than 16% below April 2010 sales volume. This increase in volume can no longer be attributed the bad winter of earlier this year. It is the strongest sales volume since June 2011, when buyers had to close on homes in order to qualify for the federal, and some state, first time and move up home buyer tax credits. This is definitely positive news, especially since there are no tax credits that have influenced the increasing sales. It is propably more driven by the number of bargains on the market and a slightly positive increase in perception of the economy.

Chart 1 shows the trends for both the number of residential units sold and the average number of Days on Market (D.O.M.) for residential units sold. May 2011 volume had a 7 unit increase over April. If fuel and food costs have not been rising significantly this might have been higher. Also, while there are jobs being created, the unemployment rate is not dropping significantly. And only a strong increase in employment will really be able to sustain and grow the real estate market.

Chart 1

Residential Units Sold and Days on Market in the Athens MSA

The total number of residential units sold in May 2011 was 151 units, up from the 144 units in Apr. 2011. While Athens-Clarke County had a slight decrease in volume after its very strong performance in April, the rest of the areas all showed an increase in volume. The average days on market did increase 8%, from 175 days in April to 189 in May. However, only Athens-Clarke County and Jackson County showed an increase in D.O.M while the other areas had decreases.

There were 240 residential properties under contract and pending closing in the area at the end of May, upslightly from the 233 under contract at the end of April. Residential properties include single family homes, condos, townhomes, mobile homes and modular homes.

Chart 2

Residential Average & Median Sales Prices in the Athens GA MSA

Chart 2 shows a recovery in both the average and median sales prices from decline April 2011. All areas experienced increases in Average price except for Athens-Clarke County and Oglethorpe County. All counties showed an increase in Median sales price except for Oglethorpe County. Madison County recovered slightly from it sharp drop in both Median and Averager Prices in April. As stated in previous market reports, sales prices going forward, both average and median, continue to be dependant upon the recovery of the economy and an increase in jobs and employment and are subject to the same risks from increasing fuel prices as sales volume is. They are also going to be affected by the number of REO (bank owned foreclosures) and Short Sale properties on the market.

The Greater Athens Metropolitan area, for this report, includes Athens-Clarke County, Oconee County, Oglethorpe County, Jackson County and Madison County. All chart information is derived from data in the Athens Area Association of Realtors® multiple listing service (MLS).