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Atlanta Home Sales Continue to Fall in 2008 | Atlanta Real Estate Market Report

Atlanta home sales continue their decline in 2008. I decided to do some of my own preliminary Atlanta homes sales statistics this month a few days ahead of the FMLS statistics. Sales last month were off over 40% and January 2008 seems to be doing just the same. For January 2008 there are only 2272 sold single family Atlanta homes showing as closed. In January of 2006 the number was 3807, in January of 2007 it was 3844 with the average sales price $248,137 vs. $252,347 in 2007. On a percentage basis that is over a 41% drop in sales for Atlanta homes and a 2% drop in price. The offical statistics wil be out in a few days, but I think there will not be a major revision in Atlanta homes sold. Chances are more likley to show an average drop in sales of at least 35% single falmily homes sold. There are not enough in the 2779 pending sales to make much a dent, they are normally much higher. There are a lot of great Atlanta homes for sale, contact us for more information!

1/01/2006 to 1/31/2006 3807 Sales 82 Days on Market $204,940 Average Price
1/01/2007 to 1/31/2007 3844 Sales 89 Days on Market $252,137 Average Price
1/01/2008 to 1/31/2008 2272 Sales 102 Days on Market $248,137 Average Price

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Posted by Jim Crawford ~ Atlanta Real Estate-ABR E-PRO on 02/15/2008 12:32 PM

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2 Comments on Atlanta Home Sales Continue to Fall in 2008 | Atlanta Real Estate Market Report

As with our market, the story is not the price. The story is the volume sold.

Do you believe the NAR will ever figure that out???

02/15/2008 12:41 PM

by Lenn Harley, Homefinders.com, MD & VA Real Estate

Homefinders, Real Estate in MD & VA, Lenn Harley, Broker, New & Resale Homes Lenn you are so right! I do not think anyone is getting this even in our own profession!

02/15/2008 12:48 PM

by Jim Crawford ~ Atlanta Real Estate-ABR E-PRO (RE/MAX Greater Atlanta)

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