The Previous Year in Review Plus a Look Ahead to 2013 in Clarke and Oconee Counties

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We are well into the New Year and things are already picking up. In fact, looking at how 2012 compared to the year prior, there are lots of great things happening in our marketplace. We saw continued historic low interest rates that kept pulling off more and more buyers that had previously been waiting the market out. We saw a significant increase in demand and conversely a decrease in the supply of homes available for sale – as much as 40% fewer homes available this year versus last.

Clarke County Real Estate Snapshot
Last year there were 941 homes sold as opposed to just 818 sold in 2011. This represents a 15% increase in homes sales year over year, indicating a strong comeback for real estate in our area. The number does not rival pre-2007 levels however it does show strong promise for a better housing market ahead.

Oconee County Real Estate Update
We also reported approximately 2% increase in the average sales price in Oconee County as well as a sizable increase of 34% more homes sold in 2012 compared to 2011. The surprising fact is that about one fifth of these homes were new construction, an industry that until only recently had suffered from the housing market crash of 2007. Developers are able to buy land at lower prices and then pass on these savings to homebuyers, helping to propel the new construction industry.

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Looking ahead to the months and year ahead, we are excited to serve you with even better service. We have brought on two assistants to the team and are putting in important systems in place to be able to provide you, our valued clients, with the best real estate experience.

If you would like more information on the counties we have covered here, or to obtain the market statistics for another area in our region, please feel free to contact us today! It’s a fantastic time to buy a home with market conditions as they are and we look forward to helping you achieve all your real estate goals.

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