By Matt Barbour, Weekend Anchor/Reporter - bio | email
WHITFIELD COUNTY, GA (WRCB) -- Along with improved unemployment numbers, there are signs of growth in North Georgia real estate, more specifically, Whitfield County.
2012 proved to be a successful year for Whitfield County real estate and local realtors hope the trend continues.
"While the price has gone up, the inventory has gone down," says Randy Parker.
Parker is a broker and owner of Real Living Advantage real estate.
He says last year, the average sales price of area homes rose, as did the number of total sales.
"You had sellers who were not in the market who were just kind of riding this thing out and said when the market starts to come back, I'll put my house up for sale," he says.
Parker says as more homes have sold, there is less inventory, driving prices up.
"The median sales price has risen. I think it was like in the mid-80s in 2011 and it's up to like 94-something now for 2012."
Which he says is a good thing, saying the market is turning to slightly favor sellers.
"Now we have multiple buyers on properties and at times we're getting about list and getting into a lot of multiple offer situations," says Parker.
He says multiple factors are playing into the up-tick. Whitfield County's unemployment rate went from around 13 percent in 2011 to under 11 percent toward the end of 2012.
Each home sale can have a ripple effect on the local economy.
"If they buy housing, it may mean that re-modelers are going to work or construction guys going to work and he's buying lumber and buying furniture or fixtures, so it just kind of ripples itself out through the community."
Parker says if you are looking to buy, now is the time to seek out historically low-interest mortgages.