Right now the second home market in the North Georgia Mountains is a buyers market. Sales are generally below last year. Overall about 15 percent down. However prices are still relatively stable although trending lower. The big dip is in the second home market.
There are 2 trains running down the real estate track here. One is the first time buyer market. That market is brisk. Prices are good. Interest rates are good. Inventory is good.Homes are seeing multiple offers and good homes are moving well.
The second home market or even the retirement home market is sluggish. Reasons for this include a bad Florida market. Many of our buyers look to beat the heat and are from Florida. As they cannot sell there they cannot buy here. Also other areas of the country effected by home sale slowdown impact us.
On the other hand buyers who are working North of, or on the North side of Atlanta, or are telecommuting are discovering the benefits of mountain living.
So we have mixed bag. How long will the good time for buyers remain? They will remain until other markets turn around and potential buyers can become liquid. There is a great pent up demand. So if you can now is the time to buy.
****************************************************************************************
Charlie Ragonesi All Mountain Realty Big Canoe and Mountain Blog
On line at www.allmountainrealty.com Call at 706 579 1098
