The latest FMLS statistics for the metro Atlanta homes for sale were just released the other day. There were 4,009 closings for all single family in May a decline of 24.7% compared to May 2008. There were 3,481 closings for single family detached in May a decline of 23.1% from May, and there were 528 closings for single family attached homes (Condos, lofts, and town homes not fee simple) in May a decline 33.6% from May 2008 and a 60% decline from May 2006.
The average sale price for single family detached Atlanta homes in the Metro area in May 2009 was $199,668. May 2009 average is still $75,000 below May 2007's average sale price. The average price for single family attached was $145,312 in May a decline of 20.1% from May 2008.
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JIm: that is quite a strong decline in sales compare to May 2008. It is however a great time to buy in your area with these price reductions. I am sure you are starting to see well informed buyers starting to come off the fence.
LLoyd Nichols~SW Florida Homes (Right Choice Realty LLC) Yes, we have closed quite a few buyer sales this month, and our buyers really got some great deals!
Jim, all I can say is "Ouch!" Our numbers are down too, but our prices haven't dipped quite that much. One only hopes that we're near the bottom and that we can start heading in the other direction.
According to the NAR, there are only six states that have shown increases in home sales year over year. Unfortunately, Georgia is not one of them.
Connie Harvey Realtor Nashville Tennessee Homes (Prudential Woodmont Realty) Atlanta's prices will correct significantly if the listing inventory cannot be pared down. I do not think we have seen bottom yet.