North Georgia mountain home prices diverge: Blue Ridge down 22.4%
Three-month sales in North Georgia's mountain and lake communities against the same months a year earlier.
By Jeff Crowe
Published · Updated
ELLIJAY, Ga. Blue Ridge's median sale price fell 22.4% to $643,000 in the three months through October, against $828,444 in the same months a year earlier, on 42 closings.
In Lake Arrowhead, 27 homes sold at a $594,900 median, up 21.4% from $490,000, with a median 50 days on market against 37.
“The mountain markets split this fall. Blue Ridge's three-month median fell 22.4% to $643,000 while Lake Arrowhead rose 21.4% to $594,900, so in the mountains I price each community on its own numbers.”
In Big Canoe, 45 homes sold at a $601,500 median, down 4.0% from $626,500, with a median 50 days on market against 26.
In Dahlonega, 91 homes sold at a $362,500 median, down 3.3% from $375,000, with a median 47.5 days on market against 32.
Mountain and lake markets are small, so we compare three-month windows with the same months a year earlier rather than single months.
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Jeff Crowe, publisher and market reporter
Jeff Crowe writes about Georgia home sales from the official monthly FMLS run. Jeff is a licensed real estate agent with CENTURY 21 The Avenues, a full-service local brokerage in Calhoun, Ga.