Now that we’re already into February of 2020, a new year and a new decade, how much has the Athens area real estate market changed in the last 10 years?
My team and I compared the data from 2009 and 2019, and the results are pretty amazing:
- Homes sales increased from 2,048 to 3,782
- Bank-owned sales decreased from 657 (meaning 32% of all 2009 homes sales were distressed sales) to 55 (1.5% of all sales in 2019)
- The average sale price increased from $166,533 to $264,268
- The average days on market decreased from 195 to 60 days
Here’s one more stat to think about: In 2010, 1,935 homes sold, and 40% of those were bank-owned sales. This makes sense when you consider that we were still in a recessionary period back then.
As you can see, we’re in a completely different market and economy now. If that average sale price increase is not a case for homeownership and real estate investment, I don’t know what is. What changes are in store for our market this decade? I anticipate that real estate will continue to increase in value, and the way we shop for and view real estate will change as well.
If you have more questions about how our market has evolved in the past decade or you’re thinking of buying or selling a home soon, don’t hesitate to reach out to me. I’d love to help you.