July 2010 Home Sales Results for Northeast Georgia
That's One Way to Beat the Heat!
While we were all broiling in the sweltering July heat, the local real estate market in northeast Georgia was only “lightly simmering” as the monthly sales results declined 16% from June’s numbers, which were the best so far in 2010. Still, July 2010 home sales were a welcome 5% improvement over July 2009. Distressed sales made up only 31% of the total sales in July, which was the lowest the ratio has been since 2009. Although there were a few more sales in the upper price categories causing an uptick in the average monthly sales price, the median monthly sales price declined across the board for all counties as we continue to see higher numbers of home sales in the under $100,000 price category.
Source of Statistics and Data for Blog
Observations:
Habersham County had ten sales under $100,000 which brought down the median monthly sales price to $103,000, the lowest in three years. The number of distressed sales improved to only four sales in July.
White County also had ten sales under $100,000, but six of those were “Resort and RV” homes. White County was credited with one $1,000,000 sale on Tray Mountain, and had their highest number of distressed sales for the year at seven.
Rabun County hit fifteen home sales again in July matching June’s results, with four lake sales ranging from $409,000 to $1,235,000.
Stephens County’s sales fell 55% in July over June’s results, with five of the nine sales in the distressed category.
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Regards to all,
Dale
