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Wednesday, August 31, 2016

An Update on the Greater Athens Real Estate Market

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The word on the street is that homes are selling like crazy in Athens and while that’s true, the pace at which homes are selling is also dependent on both price and location.

"We’ve got ourselves a hot market."
We are starting to see more activity in the lower price ranges and in certain areas of town that are hotter than others. Homes are moving in the higher price points, but not at the same pace. Inventory levels in the lower price ranges are extremely low, below a two-month supply. In the upper price ranges, however, there is still an eight to 10 month supply.

Here are some of the most recent statistics for both Clarke and Oconee Counties to give you a better picture.

In Clarke County, home sales have risen a little over 1% in the last year. However, the average sales price for homes has risen an incredible 9% in the past year. That’s a pretty significant increase. The average days on market has also sped up. Homes are selling in an average of 30 days faster, a 19% increased.

In Oconee County, we have seen a 13% uptick in sales, which is great news. The average sale price has gone up by an average of 5% as well. Homes are selling an average of 13 days faster in Oconee County than they did at the same time last year.

I hope this gives you a good idea of what our market is like right now. If you have any additional questions or are looking to buy or sell in the area, give us a call or send us an email. We would love to hear from you.