The latest figures for Atlanta real estate sales were just released this week for November 2008. I thought I would share some of those numbers with you, and offer some perspective as November Atlanta town home and condos sales are compared to the same time-frame in November for a 4 year period. This November 2008 we saw a substantial drop both in sales, and prices. In this blog we focus on falling Atlanta condo and town home prices. The average Atlanta single family attached sale price for November was $161,192. It was the lowest monthly average since February 2001. Last November the average sales price for an attached single family home in the Atlanta Metro area was $202,943 Vs. this Novembers average sales price of $161,192. When you consider there are probably greater concessions from the seller as far as upgrades, paid closing costs etc...this drop in price is substantial. It is definitely a buyers market in Atlanta metro area.
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These are some staggering statistics. great time for a buyer in Atlanta.
Ellie McIntire Real Estate in Howard County Maryland (The McIntire Team of Long & Foster) I agree Ellie! Opportunity is knocking!
Yes, that is a distinct price change, Jim. Question is - are buyers ready to take advantage of it?
Goodness Jim. When it comes to Atlanta home prices, you could save a lot of time by just republishing old posts.
it seems that Condo prices need to go below trend.... about 2001 levels?
Merry Christmas!
your friend in Charlottesville!
Joan Snodgrass Tri-Lakes Realtors, Shell Knob, MO (Tri- Lakes REALTORS) I am not sure there are any buyers. A recent trend of very low priced foreclosures that are not selling have caught my eye. That is not a good scenario!
Lenn Harley Homefinders.com MD & VA Real Estate Well for one thing...it would save a lot of time rehashing what I already know! LOL! Good one! I like that idea!
Charles McDonald / Your Trusted Broker for Charlottesville Real Estate (RE/MAX Assured Property) Sales show us we are already at the same units closed. Price may be bound to follow.
Hi Jim, Well that seems to be about the way it is here in Brevard County Florida. Prices have almost reached 2001 prices. I wonder if they will go down much further. Only time will time. I don't believe that we have hit the bottom yet.
Wow, you went from dramatically to sharply in consecutive posts....that was painful!
Let's try and make 2009 a little better
Bo
Jim:
Although I thought Atlanta had a greater decline, it seems to not much more then Bergen County New Jersey.
Maybe your single family market may show a difference.
Richard
Jim,
Those numbers sure make you think. The market here in Las Vegas is behaving pretty much the same way, looking for the bottom after the lofty peak a few years ago.
Sandy Shores, Melbourne, Brevard County, Florida Space Coast (M & M Real Estate Inc) I agree, but i feel bottom is very near. I can't see this going much lower.
Bo Hussung/ National Title Agent (Cogent Closing Associates) Somesegments of the market have been hit much harder than others. Condos and town homes are in big trouble right now.
Richard Stabile Bergen County New Homes Builder Realtor (REMAX real estate associates) They are not too well either. I posted their results yesterday also.
Esko Kiuru - Las Vegas NV Mortgage Consultant (Sinifox Financial) What a difference in a few years isn't it?