Market Conditions in 30513>Question Details

Dr Retired, Home Seller in Blue Ridge, GA

What is the average time on market now for homes less than $200,00. in area 30513 ??

Asked by Dr Retired, Blue Ridge, GA Fri Jul 23, 2010

Help the community by answering this question:

Answers

5
Gayle Barton’s answer
That is somewhat hard to pinpoint as many properties have been re-listed multiple times. Of course, it also depends in the property type (cabin - vs- mobile home) and location.

I can say that a nice cabin, in a decent location, which is correctly priced (not overpriced) can sell in 180 days.
(Though I did see one today that has been on the market for 777 days...)

If you would like for me to complete a market anaylsis on a property for you, I would be able to provide you with more detailed / accurate information.
0 votes Thank Flag Link Fri Jul 23, 2010
BEST ANSWER
So I see your retired!

Information complied through our Northeast Georgia MLS shows that 127 homes have sold in Fannin County under $200,000 YTD. The Average Days On Market (DOM) for those homes sold was 120 Days. The homes sold at 83% of the original list price, and 90% of list price.

I hope that helps you with your question. If not, or you wold like additional information, please contact me and I will be more than happy to assist you with your Real Estate needs.

Make it a GREAT day!
0 votes Thank Flag Link Sun Jul 25, 2010
This was a great question so I just wanted to update this for the last 6 months in the Blue Ridge area (6/1/13-12/11/13).
Our market has steadily improved over the last year and we have seen 116 residential homes sell in the last 6 months under $200,000. The average time on market was 122 days, but averages can be misleading. If a home is priced right and marketed correctly, we are seeing a much shorter sales cycle. I personally have had 2 listings sell within the first month of being on the market recently.
Current sold to list price under the $200,000 price point is 93.05%, but again, this is just an average and we have seen some go close to asking or above if there were multiple offers.
Web Reference: http://www.ajpetrillo.com
0 votes Thank Flag Link Wed Dec 11, 2013
A lot more goes into the equation than just price, especially in a second home market. Does your property have a year round mountain view? Is it on water? A community or gated community? Are ther covenants and restrictions? Amenitites? My suggestion for you is to have a Real Estate Professional prepare a Comparative Market Analysis first to determine the marketability of you property and then give an estimate of days on market to sell.
0 votes Thank Flag Link Thu Aug 19, 2010
Truly, it is hard to estimate without knowing more about the property one would consider selling, but as stated, properties that say they are sold in 3 days, 20 days or even 200 days may have been on the market under different MLS numbers several times due to relisting. Also, the same 3 criteria guide how soon a cabin may sell-price, condition and location. Creekfront or mountain view may sell before a wooded property. However, some people seeking solitude may want a small rustic cabin in the woods versus having drive drive up a steep gravel road to get a great view. Right now with foreclosures in the mix, price may be the driving factor. Recent examples of sales since Jan 1,2010 indicat a range of 4 days - 511 days. The former is an older 2/1 on the shores of Fightingtown Creek and the latter is a 2006 2/2 w/full basement.
both were listed between 176.000 and 179,000 and both sold for 20,000 less than asking - for cash.
Your best bet is to select a realtor, descrive your specific property and have a Comparative Market Analysis(CMA) completed to compare your location and condition to arrive at a price range. The CMA will give you Days on Market information on the listed and sold comparables plus an average for each category. Good luck.
Web Reference: http://www.judyaselton.com
0 votes Thank Flag Link Fri Jul 23, 2010
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2014 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer