I hope this finds you warm and well on a cold day here in the beautiful North Ga mountains! I have some good news today for both buyers and sellers, regarding the local real estate market here in Blairsville! Sounds odd to say that, but in this case it’s true!
In 2011 there were 623 total sales in Union County (Blairsville), as compared to 518 in 2010! A nice increase! In 2011 there were 395 homes sold in Union County, up from 348 in 2010! The average home sale price in 2011 was $154,821 rising just slightly from the 2010 average of $152,979. Slight, but still an increase and the first one we have seen since 2005! the median home sale price dipped slightly in 2011, from $139,000 in 2010 to $135,000 in 2011! The average home selling in 2011 was on the market for only 160 days, down from 178 in 2010! Again a positive note for the market! Homes sold on average in 2011 for 91.53 percent of list price again up from 90.72 percent in 2010!
Lot sales numbered 129 in 2011, up from 2010 in 2010! The average lot price in 2011 dipped to only $17,854, down from $23,578 in 2010, while the median lot price dipped to only $12,750 again down from $20,000 in 2010! The good news here is the number of sales increased, but the price continues to drop, mainly due to the lack of building in Union County, as well as the low price of homes!
The outlook, in my opinion, is improving for the first time in 6 years! Home sales are rising, home prices have at least settled, and we can possibly even see some upswing in prices locally! Lot sales will remain stagnant for at least another year!
For buyers, NOW IS THE TIME! It is very clear the Blairsville market has hit bottom, and a rise is coming! Will you sit back and watch the prices rise, or buy now before they get higher? The supply of available homes is dropping, and the demand is rising, which is a strong signal of improvement!
For sellers, stabilizing prices are excellent news, along with the reduced amount of inventory to choose from! are we ready to sing “Happy days are Here Again”? Not yet, but if these trends continue through 2012, we might just be warming up!
Have a great day, and call me to discuss any of the info I have provided, or to ask any questions you may have!
Lester Chesser, GRI, CRS, CRB, SRES
Accredited Buyer Representative
27 Murphy Hwy
Blairsville, Ga. 30512