Hotpads.com reports National Real Estate Average Higher Rent Prices, Lower Sales Prices, Tim Francis Realty is seeing the same thing in Atlanta!
Understanding the current snapshot of the Atlanta Real Estate Market is more challenging these days than ever. Tim Francis Realty utilizes a variety of tools, reads a ton, and does statistical analysis and absorption trending to try to stay on top of our Atlanta Market. All markets are local, but there can be some National trends that are similar to Atlanta within real estate.
For example, Hotpads.com a fabulous mapping search tool for consumers tracks the market at a state and national level. In their 2010 analysis, the National Average was 11.6% higher for Average Rent Prices nationwide and – 9.8% home prices for the year. This means rent prices from 2009 to 2010 showed strong increases and at the same time the average price point that a home sold in 2010 dropped 9.8% from the 2009 average.
The GA numbers they break down at the bottom of their report show a 0% rental price increase, but we have found our Atlanta leasing prices to be higher in 2010 with many instances of multiple parties wanting the same property for lease. As well, we’ve seen decreased demand for housing and GA, as a whole state, shows a -11.1% in average home price for Sold in 2010 verses 2009.
Even the trending within a year can vary, as the 1st half of 2010 was stronger in Atlanta, GA with the US Home buying Tax Credit available through June 2010, verses the second half which saw less sales because the incentive was no longer in place.
As with any data, all real estate pricing and numbers are very local. Even within Atlanta, there are many different pockets with some areas holding on much better than others. Tim Francis Realty specializes within the Buckhead and Sandy Springs areas with respect to sales and executive leasing. Please don’t hesitate to call 404-219-9760 or e-mail if we can help you with your properties in these locations.
We expect these trends to continue as demand for Atlanta Executive Lease Homes increases again in 2011 and home buying is still struggling to find it’s footing.
For more information please click on Hotpads.com Full Report.
Are you following the trends?
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