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Broker Update February 2020

The first month of 2020 is behind us and at this point the real estate market looks very similar to last January. The amount of sold homes in Clarke and Oconee county is almost even when compared to January of 2019.  We feel the true numbers are above Jan 2019, because we have seen more and more properties sell off market, and these off market sales don’t always make it into the MLS.  Additionally, some agents are slower to post their sales into the system.  You may have noticed the average sold price for Clarke and Oconee is down slightly.  Don’t let that alarm you.  The pending sales in the coming month are much higher and that will raise it back up once we get February closings posted. 

We have broken down the areas of town into the 5 Markets of Clarke County and then added numbers for the Oconee County market.  The MLS lumps most of Normaltown and Downtown together so keep that in mind when reading these numbers.  The 5 Points area has also seen some small condo sales that are making the average sold price lower than you might expect given the high value of 5 Points real estate.  However, what you should notice is the days on market is below 40 in 5 Points which is about as low as it can get given that most contracts run for 30 days. 

Overall, we are seeing a strong yet frustrating market here in Athens.  Our values are higher which is good for sellers, but we have a low supply of what many buyers are hoping to find.  In some cases, sellers aren’t selling because they lack good options for a move.  More and more our agents are working through personal contacts or reaching out to homeowners directly to find properties for our clients.  So, if you have a property and a number in mind please let us know.  Furthermore, the interest rates we are seeing are very low and provide a great opportunity to purchase or refinance. 

Feel free to contact us if you have questions or are looking for more insight into our market

Email us at [email protected]