Current Real Estate Trends in the Greater Athens Area
(Information via Keller Williams)
December 2017 Market Update According to the National Association of REALTORS®, existing home sales picked up in October, overcoming ongoing inventory shortages. Healthy job growth and wage increases are fueling continued strong demand in much of the country.
Interest Rates According to Freddie Mac, 30-year fixed rates rose from 3.88 percent to 3.90 percent. This rate remains well below the historical average of 8.90 percent.
Home Sales The National Association of REALTORS® reported home sales at a seasonally adjusted annual rate of approximately 5.5 million homes during the month of October. This was an increase of 2.0 percent from September and a decrease of 0.9 percent from October of last year.
Home Prices The median home price decreased to $247,000 in October, which was down 0.2 percent from September and up 5.5 percent from October of last year. The median home price has increased by approximately $12,900 in the past year alone.
Inventory There was a 3.9-month supply of housing inventory in October, which was a 7.1 percent decrease from September. The total number of available homes for sale has decreased by 11.4 percent compared to October of last year.
Interested in more information on what’s happening in your neighborhood in the greater Athens area? Give us a call, or submit a request for contact today!
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