What Do the Latest Numbers Say About Our Athens Market?

With how our market’s been acting lately, there’s no better time to be a seller in one of the median price points.
Looking to sell a home in Athens, Georgia? Click here for a Home Price  Evaluation
Looking to buy a home in Athens, Georgia? Click here to perform a full home search

As I’m sure you’ve probably heard, the market has been going gangbusters lately, and I want to share some numbers to help you get a sense of what’s happening. When you hear news about the market going crazy and prices rising, that’s usually referring to what’s happening in the median price points. Homes in higher price points aren’t selling as quickly, however, and prices at those higher price points aren’t rising as dramatically either. This is because demand isn’t the same for higher-end homes. These latest numbers, then, represent the activity in our market’s median price point. In East Athens, there are only 31 single-family homes currently for sale under $200,000, which is a little over one month’s supply of inventory. In the last 12 months, 293 homes have sold in this area. With supply this low and demand still high, it’s naturally caused prices to rise. In West Athens, there are only 27 single-family homes for sale under $200,000. These homes encompass all age ranges and sizes, too—some are new, some are old, some are large, and some are small. In the last 12 months, 238 homes have sold in this area.

Now might be the best time ever to sell your home in the median price points.

In Oconee County, there are only 11 single-family homes for sale under $200,000. In the last 12 months, 84 homes have sold in this area. I believe there would be more sales in this area if there were more homes on the market. In addition to making prices rise, this low inventory is almost stifling sales. If you’re thinking about selling your house in this price range, now’s the best time to do it in the last 10 years—maybe even ever. If you’re a buyer, you have to be ready to act fast and make a strong offer if you see something you like. With inventory as it is, many homes are receiving multiple bids and flying off the shelves quickly. Times may be tough, but if prices continue to rise, you’re much better off acting now. If you have any questions or are interested in buying or selling a home, don’t hesitate to give me a call or shoot me an email. I’d be glad to help you.

Athens Real Estate Market Update

Looking to sell a home in Athens, Georgia? Click here for a Home Price  Evaluation

Looking to buy a home in Athens, Georgia? Click here to perform a full home search

What is going on in the Greater Athens real estate market right now?

Is it a good time to buy, or a good time to sell?

If you’ve been thinking about selling, right now is the best time to sell in the last eight years. The market has risen, supply is low, and buyers are looking, which means prices are going up. In Oconee County, homes priced $350,000 and below are in a strong seller’s market. In Clarke County, homes priced $200K and below are also in a strong selling market. Buyers don’t have a lot to choose from.

If it’s a seller’s market, is now still a good time to buy? Yes! If prices continue to increase throughout the year as expected, now is the time to purchase a home before prices rise further. Of course, we don’t know what will happen next year. All we know is that right now, prices are rising. 

While average-priced homes are in a seller’s market, homes that are priced $400,000 or above are in a buyer’s market. There are plenty of homes for sale and not as many buyers because buyers are being a bit more conservative with their spending. 

This creates a perfect opportunity for the move-up buyer. If you want a home in the $400,000 to $500,000 price range, you can sell your $200,000 home in a seller’s market and purchase your new home in a buyer’s market. If you’ve been waiting to purchase that bigger dream home, now is the time!

If you have specific questions about your property or area, just give me a call or send me an email. I would be happy to help you!

What Can You Expect from Athens Real Estate in 2016?

Looking to buy or sell a home in Athens, Georgia? Click here to perform a full home search, or if you're thinking of selling your home,click here for a FREE Home Price  Evaluation so you know what buyers will pay for your home in today's market. You may also call us at (706) 621-6085 for a FREE home buying or selling consultation to answer any of your real estate questions.

What did we see in the Athens real estate market in 2015? And what can we expect in 2016? We're going to find out today.

Our number of sales only rose by about 2% in 2015, but our average sales price rose over 7.5%. This includes all areas surrounding Athens, so this is great news for homeowners in the area!

However, when we look at just Clarke County, the number of transactions went way up and now sits around 1,500. The average sales price is just over $184,000.

In Oconee County, sales increased almost 21% and the average sales price rose 5.25% and now sits at $312,500.

So, what's going to happen in 2016? We're going to see prices continue to rise and more homes will be selling. Rising interest rates will push a lot of buyers onto the market, so it's going to be a great time to sell, but also a great time to buy. It looks like this year may be the best time to buy or sell in the last eight years.

Homes are getting more expensive, so if you're buying, it may be best to do so before May. If you lock in a low rate now, you can save thousands of dollars over the lifetime of your loan.

If you have any questions or concerns, please don't hesitate to contact me!

Athens Real Estate Recap for 2014

Looking to buy or sell a home in Athens, Georgia? Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price  Evaluation so you know what buyers will pay for your home in today's market. You may also call us at (706) 621-6085 for a FREE home buying or selling consultation to answer any of your real estate questions.

Today I'm going to be giving a recap of how the Athens real estate market fared in 2014. I know it's a bit late to do this, but we've been incredibly busy so far this year, which is a good sign for our local market. Overall, the market has been improving. Here are some specifics for you:

• The average sales price rose nearly 10%, and this may be due to the lack of foreclosure sales from a few years ago.  
• There were 47% fewer foreclosure sales, which is a great sign for our strengthening market. 
• New construction has increased by 13% in 2014 compared to 2013.  
• Home prices rose by 5% in Clarke County, the numbers of transactions rose, and the amount of new construction went down. Foreclosure sales also fell by 42%.  
• Oconee County experienced a 4% growth in average sales price, transactions remained steady, and new construction has risen by about 9%. Prices for new construction have also risen by 8%. Foreclosure sales also dropped 41%, which is a good sign of market recovery.

Overall we're seeing fewer foreclosures, more homes being built, and the market generally seems to be improving. Now is also a great time to buy with low interest rates and new loan products from Fannie Mae and Freddie Mac. We can refer you to some great lenders if you'd like.

If you ever have any questions or need any assistance with Athens real estate, please don't hesitate to reach out to me.