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