Fairburn 30213 - Five Year Review - Single Family Homes

Fairburn 30213 - Five Year Review - Single Family Homes

In this report, we are taking a look at the Fairburn 30213 real estate market from 2007 to 2011.  The data was compiled using Georgia MLS.  The Fairburn 30213 real estate market has had some bright spots over the past five years but still has significant room for growth in its home values.  And it is not so much an improvement via growth but more of an improvement where lost value is being restored to homeowners.  

The  weird thing is even in the midst of growing foreclosures in 2009, buyers were still entering into the new construction homes which helped to boost the average sales price.  The data suggests that 2010 was somewhat of a bottom in the Fairburn real estate market.  However, the 2011 numbers point to another drop in values via the average sales price of a single family home.  Here are the numbers in four categories:

Number of Homes Sold

The number of homes sold from 2007 to 2011 points to tremendous growth for 2007 through 2009 - about 42% growth over a three year period.  Then in 2010 there is almost a 50% drop in growth of single family homes sold in Fairburn.  This huge drop points to the problems with credit and liquidity that has impacted the housing market in general - definitely some markets more than others.

The growth trend seen from 2010 to 2011 points to positive progress for Fairburn.  The 9% positive growth is good for the economy of Fairburn.  2012 is starting off as a year with good opportunity for the Fairburn single family real estate market to see more progress in the number of homes sold.

Closed Sales Volume

The dollar volume of closed sales for single family homes in Fairburn start to decrease before the number of closed sales.  Buyers took advantage of great prices during the Federal Tax Credit for First Time Home Buyers and at the same prices were dropping to alleviate pending inventory.  The 9% drop from the high in 2008 to the 2009 numbers put the writing on wall.  And the value of single family homes continues to take a beating even in 2011, but the trend is a smoothing out so Fairburn knows the bottom has been reached.

Average Sales Price

Even more startling is the downward push on the average sales price over the last five years for single family homes in the Fairburn real estate market.  During 2011 there were months where it looked like the trend was pointed towards more recovery.  But the overall for each year shows there is much work to improve values in Fairburn.  Hopefully 2012 is the year where Fairburn real estate sees either a flat result or upward trend for the average sales price.

Average Days on Market

Getting shorter each year over the last three years.  Good properties will not be on the market very long, and there is often competition for the great prices on single family homes in Fairburn.