About the most remarkable change to listing and sales activity of homes in Pickens County Georgia for the past couple of months, is the increase in inventory. The number of homes for sale in the Jasper GA area has climbed from 504 active listings at the time of my last report, to 542 listings at this writing.
Outside of that, the 18 homes placed under contract in January is slightly better than January of the prior year (15), but still below the 21 sold in January 2008. A slight slip in average price to around the $175,000 mark, and a median price of $164,800, marks a continuing buyer's market. Foreclosures and short sales constituted 33% percent of home sales.
February 2010 showed a notable improvement in month-on-month and year-on-year sales, with 26 contracts placed on homes in Pickens County. Lower than 2008's 30 home sales, but considerably better than the 8 sold in 2009. On a less positive note, 57% of these pending sales were listed as either bank-owned homes or potential short sales. With more than 1/2 of February's transactions yet to close, average closed sale prices for the month remain in question, but for the moment it appears they will fall in line with prior month numbers.
While sales seem to be continuing to hold the line, not showing any rapid improvement, but also not showing signs of further weakness, distress sales continue to be the big story. Almost 12% of homes now listed in real estate in around Jasper GA are listed as some variation of foreclosure, lender owned, or short sale. This is a significant number and is worth monitoring for the continued effect it is likely to have on regular sales, and the ability of those homeowners who need to sell to be able to move their properties quickly.
(All sales data obtained and compiled from First Multiple Listing Service records and is believed accurate, but is not warranted.)