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Atlanta Real Estate Sales Atlanta Home Sales - July 2009 Update

Atlanta Real Estate Statistics - July 2009

The most recent Atlanta real estate statistics were just released this week by our primary Multiple Listing Service FMLS. For July single family detached metro area Atlanta homes for sale, there were 4,325 Atlanta homes sales with an average sales price of $218,840 with a List Price / Sales Price Ratio of 94% and had an average list Price of $232,829 and the original Average List price was $266,290. When these numbers are compared the OLP/ SP ratio is 87.4%. Total Days On Market is running 150 Days. Sale prices for single family detached set a monthly all-time high of $284,873 June 2007 so we are we are still $66,000 off that peak in home price. The total dollar sales volume closed for single family detached homes is also a very eye opening number. In July 2007 it stood at $1,436,081,394 while in July 2009 it was $946,483,658 or a 34% drop in dollar volume.

For the last 28 reporting periods there has been a decline in single family attached homes. This figure include Atlanta condos and Atlanta town homes. Combined sales for the entire FMLS reporting area is a mere 655 condos / town homes sold in July 2009 which is a decline of 17.4% from July 2008. The average sale price for single family attached was $157,537 in July 2009 a decline of 15.7% from July 2008.

4,982 expired listings for all single family in July and there were 2,122 withdrawn listings for all single family in July.

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Posted by Jim Crawford ~ Atlanta Real Estate-ABR E-PRO on 08/27/2009 10:05 AM

Comments (18)

Atalnta Real Estate - Home Sales July 2009 in the ActiveRain Channel

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Originally posted at: Atlanta Real Estate | Atlanta Housing News for Real Estate: Atlanta Real Estate Sales Atlanta Home Sales - July 2009 Update

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18 Comments on Atlanta Real Estate Sales Atlanta Home Sales - July 2009 Update

AUG

Hi Jim...Great Market report, I like to see you Sales Volume increases and inventory falling, funny how that works, just imagine what would happen to prices if you have no inventory:O)

Cheers, put up lots of Sold Sign around town this week :O))

Hi Jim, It is always good to see what the market is doing in other regions. Thanks for the Market report.

Victoria Oak Bay Realtor Fred Carver 250-598-2963 for Victoria Oak Bay Homes (Re/Max Camosun Oak Bay & Surrounding Area Real Estate) Sales in creases are one thing, average price, concessions are another thing. There are some good things here and some not so good things.

Debbie Aldrich Salt Lake Real Estate Salt Lake County Real Estate Blog (Keller Williams Realty 801-870-0606) You are more than welcome!

Hi Jim, thanks for sharing this information

I was thinking that it would be great to look at that from an area perspective, Like Buckhead/Midtown, Sandy Springs, Smyrna/Vinings, etc. just a thought for future blogs :-), would also be interesting to see in what price categories. I am not a Realtor any thougths where I could search for this data????

Barbara Heil-Sonneck - Home Staging Atlanta (Design2Sell - We Stage Atlanta ) The information is available to Real Estate agents using our First Multiple Listing Service FMLS around the 20th of each month. Most sales from what I have seen are under 500K.

AUG

Jim your market reflects our nation's economy. Sending one mixed signal after another. I don't really know which to believe.

John Walters Slidell Real Estate Slidell Louisiana Homes (Frank Rubi Real Estate, LLC) Well I see a lot of unemployment here, lots of vacant retail, and homes sitting for a long time. That tells me we are not out of the woods yet.

AUG

Jim,

This is a really intreesting stat that I have not seen before, "In July 2007 it stood at $1,436,081,394 while in July 2009 it was $946,483,658 or a 34% drop in dollar volume".

This certainly indicates that agents and brokerages are being hit very hard.

Jim-

I'm sorry to say that your market may be worse than much of the rest of the country.

Here in Nashville we had 1,773 single family homes close in July, avg, price $234,203 and just 87 days on market.

I have not found the means to identify the "original" asking prices of these homes, but I do know that the average list price to sold price ration was 96%.

Mark MacKenzie Real Estate Planning I think most in the is town are in total denial of what is going on. One thing can not lie... the bottom line. It would be my guess at the last quarter of the year there will be some brokerages closing and many agents will not renew their licenses. I beleive it is inevitable.

Jim Wood Nashville Real Estate (Crye-Leike Realtors, Inc.) In Atlanta they also have an Original List Price..because listings were on the MLS more than once.

AUG

Jim:

Thanks for the market update. It is very interesting to see what is happening across the US. Have a great week.

Jim Great market report in a nutshell. I think many markets have seen the decline in the $ sales volume. Here is hoping more first time buyers will get into the market thus reducing some of the inventory.

Alan Kirkpatrick Austin Texas Real Estate (Austin Texas Homes) Thanks! I find it interesting also.

Jennifer Fivelsdal, Fishkill NY (Keller Williams Realty Team - Real Estate Agent) I think the first time buyers are getting laid off. They are not calling.

AUG

Jim nice work keeping everyone up to speed with what is going on in your local market. Looks like there is a lot of room for improvement.

Bill Gassett Metrowest Massachusetts Real Estate (RE/MAX Executive Realty) For sure Bill! I am with you on this.

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