Pickens Georgia Real Estate Report: Home Sales Data for 2nd Quarter 2011.
Some good 2nd quarter news on the real estate front for Jasper, GA. Home sales volume for the three-month period was up notably over both the previous quarter and against the same period in the prior year. The number of houses sold jumped to 85, versus 65 in the second quarter 2010, and only 53 for first quarter 2011.
On the downside, (unfortunately there is one of those), median and average prices continued to fall, and in all likelihood contributed to the increase in sales. Average sale price of homes in Pickens County fell from $206,250 in Q2 of 2010, to around $160,635 in Q2 2011. Median sale price declined from $156,000 to $118,700. These numbers are lower than for Q1 2011 as well.
Also noteworthy is the surge in the number of homes sold that were listed as either foreclosures or pre-foreclosures / short sales. These REO and other distressed property sales accounted for approximately 61% of sales -- well above for any prior period.
Inventory dipped from my previous market report, coming in at 488 homes for sale in Pickens County, GA, at this writing. There is currently only a trickle of homes coming to market that aren't bank-owned, as more sellers move to the sidelines hoping to wait out the storm, (more on that in another post).
It's great to see some positive movement in Jasper home sales, now it is a matter of watching for some stabilization in prices. . .
Feel free to contact me for specifics on your neighborhood, or to check comps on your home.
(All sales data obtained and compiled from First Multiple Listing Service records and is believed accurate, but is not warranted.)