Breaking the Rules -- North Georgia Mountain Real Estate
By Kim Southern- "Sold" with Southern Hospitality, Greetings from the North Georgia Mountains!
(Century 21 In the Mountains)
Knocking conventional wisdom on its ear, home prices in the North Georgia mountain real estate market during 2007--with the exception of Gilmer County--continue a trend upward, albeit not at the rate we saw in 2004 and 2005. I did a year-to-year comparison of residential sales in 2006 and 2007. The results were interesting, to say the least. Despite an overall decline of nearly 28% in number of units sold--and an absorption rate averaging 21 months--prices held steady and, remarkably, in Fannin County prices leaped by 14% in 2007!I analyzed sales data for the North Georgia market overall (Gilmer, Fannin, Union and Towns counties combined), as well as each county individually. In addition to number of sales, average price, and most expensive listing, I tried to put the numbers in pe...
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