Atlanta Real Estate Trend Revealed: More Sales, Lower Prices
The numbers for February are all in, and the year-over-year sales results for Atlanta’s 26 counties reveal a trend that is simultaneously encouraging on one hand and discouraging on the other.
For most counties in the MSA, the number of closed single family residential sales rose in February 2012 over the same month one year ago. That’s the good news.
The disturbing trend is that even though total units sold is on the rise, sales prices continue to slide downward. While buyers, and in particular investors, are back in market and spending on real estate, they aren’t spending as much per unit as they did last year.
The Clayton County real estate market saw unit sale rise from 198 units in February of 2011 to 224 units last month. But sale prices slipped from an average price of $48,122 down to $44,398.
The Dekalb County real estate market shows a similar result, with 328 units sold last year and 420 sold this year, while the average sale price slipped from $130,137 last year down to $109,577 this year.
The good news: there’s increased activity in the market. The bad news: prices seem to remain on the decline.
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