Patience is a Virtue for Athens and Oconee, GA Sellers

Report Generated For: 4/3/2009 – 7/3/2009

Athens MLS Area: 07:South Oconee Co., 08:Watkinsville/Oconee Co., 09:West Oconee Co.

Home Sales Price                          #            Mkt Share         Avg DOM

200,000 – 249,999                        11            13%                        217

250,000 – 299,999                          6              7%                        189

300,000 – 399,999                        12            14%                        236

400,000 – 499,999                        12            14%                        334

500,000 – 749,999                          4              5%                        423

The biggest battle we face, and you could call it that some days, is that of trying to keep the frustration level down for home sellers. The information, provided via the Athens MLS reveals that 47 percent of homes sold in Oconee County, where the average sales price was $287,000 during this time frame, was under $200,000!

How does this compare to Athens-Clarke?

Athens MLS Area: 01:West Athens/Clarke Co., 02:North Athens/Clarke Co., 03:East Athens/Clarke Co., 04:East Athens/Clarke Co., 05:West Athens/Clarke Co., 06:Five Points/University

Home Sales Price                           #        Mkt Share           Avg DOM

200,000 – 249,999                        19            8%                        301

250,000 – 299,999                        12            5%                        206

300,000 – 399,999                        16            7%                        310

400,000 – 499,999                          3            2%                        311

500,000 – 749,999                          4            1%                        91

In Athens-Clarke you see a noticeable drop in sales as we go above $200,000 over the past 90 days.  What is telling is that 77 percent of all sales in the county are under $200,000!  This tells me two things.  One is that first time homebuyers are dominating the market.  Secondly it confirms what the industry is seeing in that there are fewer of the desperately needed “step up” buyers this year than in past years.   For 7 sellers out of 10, they had their homes on the market a skyrocketing 300+ days!

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!