Atlanta Real Estate Market Report - Atlanta Homes Sold - Atlanta Average Price Homes Sold
Atlanta real estate statistics for August 2008 have just been released on September 21, 2008. Single family detached Atlanta homes sales have dropped to a monthly total of 3,737 which is a year to date drop of 31% and compared to a comparison to August 2006 when we closed 6,184 that is a 38.5% drop in the number of Atlanta homes sold. Atlanta condos saw 572 units closed in August 2008 versus 1,009 for the same period last August. Atlanta condos / town homes saw a drop in units sold at a 43.3% drop. The average sale price for single family detached home was $241,761 for August a decline of 10.8% for the same year ago. The average sale price for Atlanta condos and town homes in August 2008 was $178,747 or an 8.7% decline from August 2007.
These numbers do not reflect the reality of this market in the sense sellers are contributing more to home buyers in terms of the seller paying the buyers closing costs. There were 7,563 expired listings for all single family in August.
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Jim,
With the expired listings is the inventory still increasing or is it starting to decline?
Richard
Richard Smith Mortgages Home Loans FHA TN GA AL (American Acceptance Mortgage, Inc) I Believe it is about the same. Withdrawn listings dropped. People that do not have to sell are allowing their homes to expire and no placing them on the market again.
Hello Jim,
First - thanks for celebrating my 100th post and I took your advice. Quite a powerful post here. I can appreciate the level of experience you put behind your market data - having such a strong pulse on your market will insure your ability to maneuver your clients through the changing market conditions. It's always a good time to buy or sell under the right circumstances and of course using the right Realtor.
Much success,
Amber Gardner, Sherwood Oregon
Hi Jim,
Thanks for the great information as always. In your opinion, where do you forsee this trend heading??
Thanks,
Winter
Jason Gardner (John L. Scott Real Estate) Thank you so much. Congrats again! Yes homes are still being bought and sold by realistic buyers and sellers.
Atlanta Real Estate, Altanta Homes Winter Baserva, Atlanta Foreclosures (The Good Broker) I see inventory starting to drop - tire kickers are postponing a sale for better days. I see more foreclosures, longer times to sell, and prices continuing to decline.