June 20, 2008
Cherokee Tribune Staff Writer
By Ashley Fuller

Home sales in Cherokee County jumped last month, and while experts see other positive signs, they stopped short of calling it a recovery.

There have been 229 house sales reported in Cherokee for the month of May, according to a report from the First Multiple Listing Service, a data services provider for real estate professionals. The number could climb higher as not all sales are reported to FMLS right away.

The total is an increase from the 209 houses sold in the county in April, but down from the 372 houses sold in May of 2007.

There were 711 new listings on the market in the county last month, down from 817 new listings in April and down further from 954 new listings in May of last year. So far this year, there have been 3,841 new listings in the county, a decrease from 4,362 at this time last year.

Sales this year still remain well behind last year’s pace. So far this year, there have been 1,008 houses sold in the county, a drop from 1,522 houses sold at this same point last year.

Last month’s results may point to better times ahead, according to local Realtors.

“I think we have all been seeing a better market,” Diane Galvin of Re/Max Town & Country, president-elect of the Cherokee Association of Realtors. “May and June have been better for closings.”

Wanda Roach, an agent with Century 21 Max Stancil Realty in Woodstock, said she is seeing positive signs, such as builders reducing prices to get houses off the market.

The average sale price of a house in the county last month was $242,659, slightly down from the average price in April of $242,812 and from $267,843 in May of last year.

Ms. Roach said she also is seeing a surge in activity from potential buyers.

“I have had a lot more calls from people out riding. That has not been happening,” she said. “People are out on the weekends and looking at houses.”

Molly McGrory, who operates four Re/Max offices, said the market has not recovered, but the offices are getting busier. She said she has noticed houses are not sitting on the market as long as they have been.

“This is definitely not a full recovery, but we are expecting a very good June and a strong July,” she said. “Our walk-ins have increased in our offices.”
afuller@cherokeetribune.com