Madison GA Home Values

Madison GA Home Values

Madison GA Home Values

Madison GA Home Values soar as area grows. For the latest market information call Jennifer Vaughan 706-431-0678. The City of Madison is the epitome of small town America. Besides clean streets, seasonal flower beds, and picturesque residences the historic streets surround the charming downtown area. These attributes make Madison GA a place that residents and visitors can enjoy. The condition of the town is the result of the strong stewardship of the city’s past and present mayors, council members, managers, and citizens. Constant citizen input helps the city’s elected officials to maintain, preserve, and build that which all of Madison’s residents prize – a vibrant, viable, and safe community in which to live, work, and raise their families.

Located in Morgan County Madison is one of the small towns in the Lake Oconee area. Lake Oconee is a reservoir in central Georgia on the Oconee River near Greensboro and Eatonton. It was created in 1979 when Georgia Power completed the construction of the Wallace Dam on the Oconee River. Lake Oconee runs through Georgia’s Morgan, Greene and Putnam counties and is separated from Lake Sinclair by the dam.

Madison GA Market Trends – July 2022

Active Listings

$184 per square foot $717,858 Average Price 136 Days on Market

Pending Sales

$210 per square foot $567,795 Average Price 39 Days on Market

Sold

$159 per square foot $384,778 Avg Price $369,421 Average Sold Price 96% Sold/Listed Ratio 64 Days on Market

Number of Sales – 06/2021to 06/2022

Number of Sales

Median List & Sold Price

Median List Sold Price

Median Days on Market

Eatonton GA Home Values

Eatonton GA Home Values

Eatonton GA Home Values
Eatonton, GA

Eatonton GA Home Values have risen steadily. For the latest information about home values contact Jennifer Vaughan (706) 431-0678. Eatonton is a city Putnam County. As of the 2020 census, the city had a population of 6,307and was named after William Eaton , an officer and diplomat involved in the First Barbary War. There are a number of parks and recreation areas to provide residents with plenty of opportunities to enjoy the outdoors and a strong sense of community. Eatonton is located in Putnam County between Lake Oconee and Lake Sinclair. Lake Oconee is a Georgia Power reservoir in central Georgia on the Oconee River. Georgia Power completed the construction of the Wallace Dam on the Oconee River in 1979 and formed the lake. The lake runs through are Morgan, Greene and Putnam counties.

Eatonton GA is a charming small town known for its historic downtown district and beautiful antebellum homes. Downtown Square, which is lined with shops, restaurants, and cafes and a farmers market every Saturday morning and community events throughout the year. Eatonton is a great place to live, work, and raise a family. There are plenty of things to do in this vibrant community, and the people are friendly and welcoming. If you’re looking for a place to call home, Eatonton GA should definitely be at the top of your list.

Market Statistics 31024 – June 2022

Existing homes in Eatonton GA have a median price that increased by 7.6% over the past year. Expect that trend to continue in the coming months. Prices on existing homes have seen a steady increase over the past few years.

A – Active25
O – Coming Soon1
O – Expired6
O – Sold4
O – Under Contract11

Number of Sales

Median List & Sold

Median Days on Market

Lake Oconee Home Values

Lake Oconee Home Values

Lake Oconee Home Values
Lake Oconee, GA

Lake Oconee Home Values are always changing. For the latest home value information for Lake Oconee call Jennifer Vaughan 706-431-0678. Location is everything in real estate! Lake Oconee is a beautiful place to call home. You may not have heard of the area commonly called Lake Country. This includes Lake Oconee and Lake Sinclair. The Lake Oconee area is an equal distance between Atlanta to Augusta. As a Georgia Power Company lake, the lake level is managed consistently near full pool for power generation and recreational use.  

Located in Georgia, Lake Oconee real estate is the third largest market in the state for lake homes and lake lots. The typical average list prices of Lake Oconee homes for sale is $667,000. On average, there are 400 lake homes for sale on Lake Oconee, and 670 lake lots and parcels. Lake Oconee is considered one of Georgia’s largest lakes.

Living in Lake Oconee

There are several lake area residential communities. Everything from family friendly to senior living is available. Home values around the lake have increased dramatically. Increases are most notable in lakefront and lake access homes. Here are some statistics you need to know:

Greensboro, GA Median Age of Home 36 Homes Owned 55.0%  Homes Rented 19.0%  Homes Vacant 26.0%

Eatonton, GA Median Age of Home 37 Homes Owned 52.0% Homes Rented 18.0% Homes Vacant 30.0%

Madison, GA Median Age of Home 44 Homes Owned 65.0% Homes Rented 23.0% Homes Vacant 12.0%

Lake Oconee Real Estate Market

Number of Listings – 2021 vs 2022

Pending Listings – 2021 vs 2022

Closed Listings – 2021 vs 2022

Lake Oconee is a vast and beautiful location perfect for anyone who enjoys living on or near the water. Living at the lake is unique. If you are thinking of a lake home work with a local expert. If you are looking for a lakefront home contact local expert Jennifer Vaughan.

What Does an Economic Slowdown Mean for the Housing Market?

What Does an Economic Slowdown Mean for the Housing Market? | MyKCM

According to a recent survey, more and more Americans are concerned about a possible recession. Those concerns were validated when the Federal Reserve met and confirmed they were strongly committed to bringing down inflation. And, in order to do so, they’d use their tools and influence to slow down the economy.

All of this brings up many fears and questions around how it might affect our lives, our jobs, and business overall. And one concern many Americans have is: how will this affect the housing market? We know how economic slowdowns have impacted home prices in the past, but how could this next slowdown affect real estate and the cost of financing a home?

According to Mortgage Specialists: 

“Throughout history, during a recessionary period, interest rates go up at the beginning of the recession. But in order to come out of a recession, interest rates are lowered to stimulate the economy moving forward.”

Here’s the data to back that up. If you look back at each recession going all the way to the early 1980s, here’s what happened to mortgage rates during those times (see chart below):

What Does an Economic Slowdown Mean for the Housing Market? | MyKCM

As the chart shows, historically, each time the economy slowed down, mortgage rates decreased. Fortune.com helps explain the trend like this:

“Over the past five recessions, mortgage rates have fallen an average of 1.8 percentage points from the peak seen during the recession to the trough. And in many cases, they continued to fall after the fact as it takes some time to turn things around even when the recession is technically over.”

And while history doesn’t always repeat itself, we can learn from it. While an economic slowdown needs to happen to help taper inflation, it hasn’t always been a bad thing for the housing market. Typically, it has meant that the cost to finance a home has gone down, and that’s a good thing. 

Bottom Line

Concerns of a recession are rising. As the economy slows down, history tells us this would likely mean lower mortgage rates for those looking to refinance or buy a home. While no one knows exactly what the future holds, you can make the right decision for you by working with a trusted real estate professional in the Lake Oconee area to get expert advice on what’s happening in the housing market and what that means for your homeownership goals.