The prices in real estate in Rabun Gap, in the Georgia region have had a strong fall in the last couple of months. The real estate prices for second hand homes have gone through a strong fall in this city.
The price per sq.feet in Rabun Gap has had a strong decrease during the last 6 months. In February, the average price per sq.feet was $142. In March this price pretty much remained the same at a value of $146 per sq.feet. The price for the following two months in (April, May) had a considerable decrease of 62 with regard to the prior two months. The price per sq.feet has had a considerable deflation of 85 % in the last two months compared to the average price for the previous four months. This was obtained by comparing the first four months of the period going from a price per sq.feet of $116.5 to $98.5 during June, and July.
Based upon to the price in Rabun Gap (cities), this has fallen considerably in the last 6 months. In our first sample month during February, the average price is $443,538. In March This price remains at $459,771. During the following two months (April, May) the average price had a considerable reduction of 51 % with regard to the previous two months. During the last two months, the average price has reduced with regard to the previous ones. To be precise it has gone down 90 %, going from $341,985.5 to $306,890 in June and July.