|
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Jackson County, GA |
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|
|
|
|
Yr Ending |
DOM |
Average |
|
Median |
|
# sold |
|
1-Jun-08 |
161 |
$191,061.00 |
|
$167,000.00 |
|
213 |
|
1-Jul-08 |
158 |
$181,038.00 |
|
$162,823.00 |
|
198 |
|
1-Aug-08 |
159 |
$178,993.00 |
|
$160,000.00 |
|
194 |
|
1-Sep-08 |
156 |
$169,507.00 |
|
$158,000.00 |
|
187 |
|
1-Oct-08 |
157 |
$170,857.00 |
|
$157,000.00 |
|
183 |
|
1-Nov-08 |
158 |
$173,608.00 |
|
$158,525.00 |
|
178 |
|
1-Dec-08 |
156 |
$172,137.00 |
|
$157,500.00 |
|
173 |
|
1-Jan-09 |
149 |
$168,344.00 |
|
$155,900.00 |
|
177 |
|
1-Feb-09 |
154 |
$168,473.00 |
|
$154,950.00 |
|
182 |
|
1-Mar-09 |
157 |
$166,297.00 |
|
$153,400.00 |
|
188 |
|
1-Apr-09 |
155 |
$165,522.00 |
|
$155,900.00 |
|
187 |
|
1-May-09 |
150 |
$159,864.00 |
|
$152,000.00 |
|
189 |
|
1-Jun-09 |
146 |
$149,725.00 |
|
$147,500.00 |
|
173 |
Today I want to break down real estate market trends for Jackson County, GA. What we find in the Athens Area MLS in Jackson County as compared to the predominate view of the rest of our service area is that in Jackson County, which includes Jefferson, GA, we see a decrease in DOM (Days on Market) coupled quite naturally with a decrease in prices both average and median for the area. 
As opposed to Athens or Oconee where prices have inched up slightly but DOM have increased by between 10-20 percent in the past year, Jackson County has had the least reduction in the number of homes sold (18 percent) in any segment of our service area which includes not only Athens and Oconee, but also Madison, Oglethorpe, Jackson, and Barrow.
Average sales prices have adjusted in Jackson County comparable to national averages as well. From year-end 1-Jun-08 through year-end 1-Jun-09 prices have corrected 22 percent on the average sales price, but the median sales price is only off 12 percent by comparison.
Can we call a “bottom” to the Jackson County, GA real estate market? I think we can say that due to a price correction, decreased days on market by almost 10 percent and increases in numbers of residential homes sold in four out of the last six periods through year-end 1-Jun-09 that this market is appearing to be quite healthy at this time. In comparison, Oconee has had only two periods in the last six with an increase in the numbers of home sold. Madison County and Oglethorpe three in six, but the overall plus to Jackson County is that Days on Market are down and prices are down. In Athens for example prices are actually up about 1 percent in the past year even though DOM has increased.
This trend will continue to stagnate the Athens market or any market for that matter in terms of “numbers’ of homes sold. Only through the increase in the numbers of homes sold will inventory levels be pushed back down to a “balanced market” between buyers and sellers and prices will start heading back north again.
If you are a buyer in our market, these are probably the best buying conditions in 30 years! If you would like to search the Athens MLS with MapTracks please take a look at listings in our “Classic City” today! On this web MLS search solution you can search every listing on the Georgia MLS for the Greater Athens area or in your Georgia town!
