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Tuesday, January 10, 2017

Looking Back at Important Stats From the 2016 Market

Today we're taking a look back at the Athens area market statistics from 2016 to try and get a feel for where our market is and where it might be headed in 2017.

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As we head into 2017, I wanted to take a moment to look back at the most important statistics from the Athens market in 2016. Now, a lot of agents can be procrastinators and haven't yet entered all their year-end data into the MLS, so this data might not be perfect yet.
As of early January, these numbers won't change much even as agents add in late sales data from 2016.
In Clarke County, the average sales price went up 9.8% to about $202,000. Almost 1,500 units sold in 2016, roughly 8% more homes sold than in 2015. In Oconee County, we didn't see as many sales simply because the population is smaller. Prices rose about 6.8%, from an average of $312,000 to $333,000 in 2016.
If you've been thinking about making a move in the Athens area, the time is now.
When you look at the Athens area as a whole, it was a good year with the average sales price rising 8.4% to $225,000. Overall, we're seeing prices rise, and that's a great thing. We've certainly needed it after being in a slump for a bit.
We're also seeing good appreciation, so if you're thinking about buying a house, you probably should have already done so. It's time to stop waiting.
If you've thought about selling, this time is the best time in nearly the last 10 years. We hope prices will continue to rise, but we really don't know what 2017 and 2018 will bring. As of now, things are looking up with the economy improving.
If you've been thinking about making a move in the Athens area, the time is now. Give us a call or send us an email today. We'd be glad to help.