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).
The following charts show the month to month residential real estate sales volume of the Greater Athens Ga metropolitan area for the months of Mar. 2010 through Apr. 2011. Sales volume of residential real estate was up again in April over Mar. The April 2011 volume, is up more than 8% over March 2011 but is still over 13% below April 2010 sales volume. This increase is probably not due to a carry over from the bad weather in January & February. 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.
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. April 2011 volume had an 11 unit increase over March. So far, rising fuel and food costs have not impacted sales, but, if they continue to rise it might be a different story. 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
Units Sold and Days on Market in the Athens MSA
The total number of residential units sold in April 2011 was 144 units, up from the 133 units in Mar. 2011. However, the increase was not across all counties. Athens-Clarke County had an increase of over 33% going from 62 to 84 units. Jackson County also experienced increase sales volume. Oconee, Madison and Oglethorpe Counties all experienced decreased sales volume. The average days on market had a slight increase, from 167 days in March to 175 in April. All counties in the MSA showed an increase in D.O.M.
There were 233 residential properties under contract and pending closing in the area at the end of April, down slightly from the 239 under contract at the end of March. Residential properties include single family homes, condos, townhomes, mobile homes and modular homes.
Chart 2 shows a decline in both the average and median sales prices from March 2011. All counties experienced decreases in Average price except for Athens Clarke County. All counties showed a decrease in Median sales price. Madison County experienced decreases in both average and median sales prices of over 50%. 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).
On Memorial Day, take some time to remeber that it is more than just a three day weekend, barbeques and the beach!
Madison County GA
Veteran's Memorial - Viet Nam War
Danielsville GA
Oglethorpe County GA
Veteran's Memorial
Lexington GA
Oconee County GA
Veteran's Memorial
For 235 years men and women have given their live's so that we may live ours in freedom. When you lift that beer, drink a toast to them, for without their commitment, their sacrifices, it would be a much different, and probably less free, country today.
During the month of March 2011, the Jackson County Ga real estate market had an increase in volume after a decrease in Jan and flat in February. One bit of good news for the increase, the sales were not driven by the need to close on homes by the end of June in order to get the Home Buyers Tax Credit.
Pecan Tree in Jackson County GA
At the end of March, there were 268 active listings in Jackson County. 155 of those were residential listings and 93 farm, lot and land listings. 34 of the residential listings and 26 of the farm, lot and land listings are REO/foreclosure properties while another 14 of the residential listings are short sales. In addition, there are 21 listings under contract and pending sale, all of which are residential properties.
During March there were 16 total real estate sales, 13 of which were residential and 3 farm/land and lot listings. Of those 13 residential sales, 6 were REO/Foreclosure sales. There were no REO sales of farm, land and lots. There were no short sales of any type in Madison County during March 2011.
Residential listings include single family homes, town homes, condos, mobile homes and modular homes. Farm, lot and land listings include residential lots (developed or undeveloped), farms, acreage and undeveloped land. The other listings not detailed include multi-family units, commercial properties, industrial properties, etc. and are included in the total listings but not broken out in the details. All real estate market information in this post is derived from data in the Athens Area Association of Realtors® multiple listing service (MLS). Note: Jackson County is also served by 2 other Multiple Listing Services that might detail activity not included in the AAAR MLS.
Jackson County Ga real estate activity includes the towns of Arcade, Braselton, Commerce (formerly Harmony Grove), Hoschton, Jefferson, Maysville, Nicholson (formerly Cooper), Pendergrass & Talmo as well as the unincorporated areas.
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