To understand how 2019 compared to the year prior, we’ll look at some of the numbers from Oconee and Clarke counties, where 75% of our business comes from, and then glance at Athens and other surrounding counties. Bear in mind that we will factor in only single-family housing units—no multifamily units or land parcels.
Here are the stats for Clarke County (2018 | 2019):
- Home sales: 1,493 | 1,522
- Average sales price: $215,371 | $228,275
- Days on market: 80 | 51
Homes in Clarke County are selling faster and for more money. If this trend continues, things will only become more expensive for those buyers waiting to pull the trigger. Sellers will continue to face more competition.
Here are the stats for Oconee County (2018 | 2019):
- Home sales: 634 | 627
- Average sales price: $370,874 | $392,000
- Days on market: 131 | 72
Similar story: Homes are selling quicker and at a higher price. Is it any different for the surrounding counties? Well, if you consider Athens and all of the surrounding counties together, here’s how things look (2018 | 2019):
- Home sales: 3,086 | 3,064
- Average sales price: $242,985 | $260,248
- Days on market: 101 | 57
So, though the specific numbers are different, it looks like there’s a similar trend throughout our entire area. Prices are rising by about 6% to 7%, and significant decreases in days on market—over 40%. Despite this, roughly the same number of transactions are taking place, so the demand is still there.
If you have further questions about our market or real estate in general, please feel free to contact us via phone or email. We would love to help you.