Looking back at the 2012 year of home sales in the Athens area has revealed some striking data. The market has not changed much at all when looking at the broad statistics of average home sales price, days on market, sold price vs list price, and the total number of foreclosures available year over year. There are some positives and very few negatives. I used the Athens MLS as my search tool to discover the following data.
2011 Sold Home Stats2012 Sold Home Stats
Our current market, just in the Athens area shows 533 homes available right now. Out of that we have only 26 that are foreclosures and 21 short sales. Not even 10% are “distressed.” We could say that were good news if these were improved numbers from last year, but there has not been a big decrease year over year when we also look at the other data available.
If we look at similar stats then we can see there has been some improvement in the market and it looks really good. If we look at the Average price there was only an increase of $2,753, and median increase of $600 from 2011 to 2012. Days on the market is still about 6 months, which is still not a good sign. There was a slight increase in the Average Sold price vs List price by 1.22%. In Layman’s terms that means the homeowner is getting about $1900 more for there home than last year. “Not a big change,” says everyone who is reading this. One really good note is that last year(2011) in Athens 177 homes sold were foreclosures compared to 140 in 2012. So where is the positive news? Let us take a look at the change over time in just 2012.
763 homes sold in 2012. Average Sales Price from the first half to second half of 2012 increased from $152,221 to $165,125. The median price headed up more than $10k from $125 to $135,500. There were 86 homes sold in the first half that were foreclosures, but the number dropped to only 64 the second half. If you think there might be a bunch of short sales out there, you aren’t completely wrong, but they comprised only 16 total sales in 2012, and there are only 21 available and active for sale now. This could be the beginning of the tide shifting to sellers. Maybe we have seen the bottom of the market already come and go. Only time will tell. Could be time to make your move now!
763 homes sold in 2012. Average Sales Price from the first half to second half of 2012 increased from $152,221 to $165,125. The median price headed up more than $10k from $125 to $135,500. There were 86 homes sold in the first half that were foreclosures, but the number dropped to only 64 the second half. If you think there might be a bunch of short sales out there, you aren’t completely wrong, but they comprised only 16 total sales in 2012, and there are only 21 available and active for sale now. This could be the beginning of the tide shifting to sellers. Maybe we have seen the bottom of the market already come and go. Only time will tell. Could be time to make your move now!