Atlanta real estate market report. Atlanta homes sales and prices continue to decline. This market report encompasses the entire FMLS market area and is not limited to just the city of Atlanta, but rather the entire metropolitan area.
On the Atlanta real estate market report just issued today by our First Multiple Listing Service, the number of single family homes sales declined in December to 3,178! Compared to last December 2006 we had 1865 less sales, and sold only 3178 homes. That is a drop of 37% AND FROM 2005 WHERE WE HAD 5,463 SALES - A DROP OF 42% in single family home sales.
In condos in the month of December we had a 39% Drop in Sales from December of 2006 compared to 2007. From December 2005 with 101 sales it was a drop in Atlanta condo units sold of 43%.
Median Price has dropped 3.5% from the previous year, and from the original List Price ( Home priced at previously) which really is the real List Price / Sales Price Ratio is 87.3%
Atlanta Expired listings - Single family detached had 8,128 expired listings in December, a new monthly record and 2007 saw 76,140 expired listings 20,000 more than 2006. 2007 saw 57,218 single family home sales, down from 68,853 sales in 2006. Withdrawn single family home listings for 207 was 29,186. Expired listings, and withdrawn listings are exceeding sales almost 2 to 1!
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Those numbers are looking a little on the bleak side. I like that your MLS shows the original list price for calculating list/sale ratios. Here the ratios as based on the last list price and selling price, which skews the daylights out of the numbers.
Hi Jim, You always put together great presentation blog! Nice display of data and visuals! If I was a corporate marketing and sales VP, you'd be hired on the spot!
Cheers, KIM!
Fairbanks, Alaska Realtors Jesse & Kathy Clifton The don't either. I believe a lead story today in the NY Times is about a home buyer suing his buyers agent for not disclosing that prices were falling when he made an offer to buy. Many buyers agents do not delve into doing a CMA, disclosing the Days on Market, if they were paid a bonus, or even negotiating the price.
Hi Jim...Great Graphic. If you believe Donald Trump. he told his TV audience last month to buy real estate within the next 6 months, as he says it will bottom out in the next 6 to 12 months in America.
Tell the world to buy Jim! If Nothing else, Buyers are getting low mortgage rates and lots of choice in your market.