Atlanta home prices rise in January 2009, yet sales were down. The big thing is not to focus on the month to month fluctuations of the market, but rather to focus on the sales trends which give us the better perspective. The average detached single family fee simple Atlanta homes sales average sales price for single family detached was $189,205 or an increase of 5.4% over January 2009. However, single family attached had a year-to-year decline in average sale price. I created a January trend chart below to show you exactly what is occurring in our Atlanta real estate market.
The chart shows our market peaked in price for January sales in In January 2007 at $254,388. When compared to January 2010 that is a drop in the average sales price of 25.62% when we compare it to the average sales price today at $189,205. Please keep in mind these numbers are reflective our entire Atlanta Metro coverage and not limited to the city of Atlanta.
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Jim I guess the question is, is this a trend or a momentary blip? I guess we will find out in the next year or two?
John Walters (Licensed in Slidell, Louisiana) (Slidell, Pearl River, Lacombe), My thoughts is it is a blip! Month to month really tell us nothing unless we have a point of reference.