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Atlanta Condos Prices December Trends - Prices Still Declining!

By Jim Crawford

Real Estate Agent with Long & Foster 0225078705

February 01, 2010 01:20 AM

The average sale price for single family attached in December 2009 was $155,819. This sales price was a full 7.9% below December 2008 even thought there were more sales this year over last year. This period marked a 25th consecutive year-to-year monthly decline in price. The last time the average sales price for a detached home was below $160M before 2009 was February 2001. I created a 6 year price trend chart for attached single family homes to show you what is occurring in Atlanta.

***These sales numbers are not for the City of Atlanta, but rather represent the Allanta Metro areas coverage of our MLS for Detached homes for sale.

Atlanta Condos Prices Still Declining

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Steve Loynd

Alpine Lakes Real Estate Inc., - Lincoln, NH

800-926-5653, White Mountains NH

Jim these numbers look pretty similar to mine, the condos in my area went down in value from 2007 -to -2009 about 18.8% yours look like 22.7% this seems to be the East Coast Trend but no where near 50% (or more) like Las Vegas, Florida, and California: has seen.

Feb 01, 2010 06:07 AM

Jim Crawford

Long & Foster - Fredericksburg, VA

Jim Crawford Broker Associate Fredericksburg VA

Steve Loynd, Alpine Lakes Real Estate Inc., Loon Mt, NH. The number could actually be greater, and even more depressed. So entire new units went into receivership and were auctioned off for a fraction. I also know there are entire developments that have stopped, stalled or are being held in some limbo by the banks or REITS.

Feb 01, 2010 08:52 AM

Russell Lewis

Realty Austin, Austin Texas Real Estate - Austin, TX

Broker,CLHMS,GRI

Jim this is an excellent post showing your market. With the numbers still falling are you finding it difficult for buyers to get off the fence?

Feb 01, 2010 11:07 AM

Russell Lewis, Broker,CLHMS,GRI (AvenueOne Properties, Austin Texas Real Estate) What buyers? Condo sales are anemic. To have only 620 sales for over 25 counties in a month....is really flat-lining. The bulk of sales are more probably in-town than suburbia.

Feb 01, 2010 01:15 PM

Connie Harvey

Pilkerton Realtors - Brentwood, TN

Realtor - Nashville TN Real Estate

Jim, we've had very similar results here in Middle Tennessee. Varies by neighborhood but the chart would pretty much look the same.

Feb 02, 2010 08:39 AM

Connie Harvey Realtor Nashville TN Real Estate (Prudential Woodmont Realty) I think when it is all said and done...the condo thing was way over done.

Feb 02, 2010 12:50 PM

Jim & Cathy Wood Greater Nashville Area Real Estate

Crye-Leike Realtors, Inc. - Mount Juliet, TN

Jim-

Condos are a alternative to high priced homes. When homes are no longer High Priced, condos languish on th market.

Feb 16, 2010 10:03 AM

Jim & Cathy Wood Greater Nashville Real Estate (Crye-Leike Realtors, Inc.) Before they labled the 'Real estate bubble" It was referred to as the "Condo Bubble!" They were right!

Feb 16, 2010 01:24 PM

Tony and Suzanne Marriott, Associate Brokers

Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ

Haven Express @ Keller Williams Arizona Realty

Prices continue to decline in the Phoenix metro area. in some areas the Tax Assessor is predicting declines of 11 to 36% year over year!

Aug 05, 2010 02:21 AM

Tony and Suzanne Marriott, Associate Brokers, REALTORS® (Haven Express @ Show Appeal Realty) this sure feels like the perfect storm.

Aug 05, 2010 04:40 AM

Atlanta Condos Prices December Trends - Prices Still Declining!

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