It is never good with statistics to guess the numbers or shoot from the hip.  It makes more sense to view the numbers of recent closed sales.  The following you will find some recent sales numbers from the Atlanta real estate market.  The numbers only tell you a part of the picture. You must consider the location of the home is it in the city of Atlanta or is it in the way out  suburbs?  It all makes a difference!  Price, location, marketing, condition of property, neighborhood competition of similar homes, new home competition, competition incentives, and market saturation and absorption rates have to be taken into consideration. 

There were 5,672 closings for all single family homes in April 2007, a decline of 15.0% from March 2006.  Atlanta area single family detached homes had 4,797 closings or a year-to-year decline of 14.9%. A 9th consecutive period decline for single family detached. homes.

Atlanta area condos and townhomes closed 875 units or a year-to-year decline of 15.1%.  The average sale price for condos and townhomes for April 2007 was $202,190. An increase of 5.0% over the same year ago period.

Single family detached had an average sale price of $265,818, an increase of 2.3% from April 2006. Rising inventories and slowing buyer demand have increased expired and withdrawn listings. In April there were 2,698 withdrawn listings for all single family. This is an increase of 1,129 from April 2006. For 2007 year-to-date there are more withdrawn listings than for all of 2005! This is also an all-time record for a monthly period. There were 5,136 expired listings in April. This was an increase of 1,229 units over the same year ago period.  There have been 19,502 year-to-date expired listings.  There are more listings expiring than selling. In fact, if you combine withdrawn listings and expired listings then there were 38% more expired & withdrawn listings than there were closings.

FMLS Reports that the months supply of inventory had detached-new at 12.5 months; attached-new at 11.8 months; detached-resale at 8.9 months; and attached-resale is 10.2 month’s supply. An average or standard months-supply is 6-8 months. Days-on-market for all single family was 84.3. This is greater than the highest April DOM since April 1996’s 92.1.

Source: First Multiple Listing Service Market Report - May 21, 2007

Active Residential Listings as of today in All classes in FMLS listings as of Today June 10, 2007 is: 81258