METRO ATLANTA REAL ESTATE MARKET REPORT - September 2011

National Home Builders Association came out with their Market Index Report on November 7, 2011.  A total of 30 U.S. cities made the list of improving housing markets compared to only 23 cities in the previous report. Unfortunately, none of Metro Atlanta's cities made the list.
According to a report out from Steve Palm/Smart Numbers (Marietta GA) units closed for the month of September was up, inventory levels are down; and still - home prices continue to struggle.

Inventory levels in September 2011 took a dip as many analysts have said.  Metro Atlanta homes on the market in September 2011 dropped 5 percent compared to September 2010.

No real surprse here. Homes sold in September 2011 saw a decrease in the price per square foot by 11 percent compared to one year ago.

Home values struggle as  foreclosures and short sales continue to play center stage in our Atlanta real estate market. Coupled with the low interest rates, homes are sitting on the market for a shorter period of time compared to a year ago. September numbers indicate a 4 percent drop for days on market compared to one year ago.
You can also see by the chart, although analysts don't see much improvement in our housing prices; the list to sale price is actually improved with an 11% increase compared to one year ago.

Holding true to other reports, this graph tells the same story. Inventory levels are dropping which may also explain why the list to sale ratio is improving. With less houses to choose from, banks and home owners alike are able to get close to their asking price.  With a 32% drop in months of inventory September 2011 reflected only 8.2 months of inventory compared to 12 months of inventory one year ago.