After months and months of looking at an unrepentant market telling us that nothing was changing for the good, in terms of local housing sales, there is some good news emerging. In Athens-Clarke and Oconee counties we have seen in the last 30 days some positive year over year increases in the numbers of homes sold in a few select price points.
What is useful in this data is that it is not just the typical (of late) $50,000-$59,999 investment or foreclosure properties that have seen an increase over this same 30 day period a year ago, but also the following price points;
70000 – 79999
100000 – 119999
200000 – 249999
250000 – 299999
500000 – 749999
What is ‘not’ moving is a surprising price range from $120,000-$199,999 which happened to be the hottest price range in the month of July! Sales were down from the same time frame in ’08 where we saw 46 home sales, now just 23 this year. $180,000-$199,999 got particularly ‘hammered’ with just two (2) sales this most recent month versus 13 a year ago.
What other price points seem particularly weak? For 30 days ending September 14, 2008 the $300,000-$499,999 price range had 18 sales. This year there were a grand total of six (6) recorded in both counties!
Highest percentage increases in the number of homes sold per county and price range;
Oconee 150 percent; 250,000-299,999
Athens-Clarke 44.44 percent; 100,000-$119,999
Athens-Clarke 25 percent; 250000 – 299999
Athens-Clarke 25 percent; 70,000-79,999
Oconee 20 percent; 200,000-249,999
Overall we are still seeing some relative ‘slowness’ to our market, but prices continue to maintain around the average to median price points as compared to other areas of the state and nation. It is encouraging however to see some price points start to advance per the number of sales.
As been mentioned recently in my blog, the percentage of negotiation or ‘wiggle room’ for contracts nationwide, according to Zillow, is narrowing. If you are a buyer, don’t wait too long or you might find yourself back in more of a balanced market with sellers who are more and more unwilling to budge like they did six months to a year ago!
very awesome ..