The latest Atlanta real estate statistics were just released today by our primary Atlanta MLS (FMLS). These are the most recent sales figures for Atlanta homes and Atlanta real estate. They were released today Monday March 23, 2009. Average home prices, and sales continue a sharp decline. Closings for all single family in February were 2,756 or a decline of 37.1% from February 2008. In the Condo class and town home (attached single family ) 345 closings for single family attached or a decline of 50.4% from February 2008

February 2009 At a Glance:

2,411 closings for single family detached Atlanta homes (-37.1% from February 2008)
345 closings for single family attached Atlanta homes (-50.4% from Feb 2008)
5,256 expired listings Atlanta homes
1,815 withdrawn listings Atlanta homes
Average sale price for single family detached Atlanta homes was $179,368 (lowest since February 1998)
Average price for residential attached Atlanta homes was $155,467. (Lowest price since 2001)

It seems expired and withdrawn listings are exceeding sales 4 to 1, and when you factor in that last month added another 10000 foreclosure filings that is not good. Atlanta's unemployment level now stands at an historic high of 9.8%. This will only exacerbate the problems.

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Posted by Jim Crawford ~ Atlanta Real Estate-ABR E-PRO on 03/23/2009 09:45 AM

Comments (14)

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14 Comments on Atlanta Real Estate Statistics - Atlanta Real Estate Update for Homes Sales and Prices

MAR

Wow, Jim. That's alot of real estate. 2400 homes just in February. Here in Frisco TX, we sold 2400 homes ALL of last year.

This market activity must keep you busy.

Loreena Yeo - Broker|Realtor(R) of Frisco TX Homes For Sale (3:16 team REALTY) Yes but we have 75000 listings and 40000 agents.

I would be speechless except I am compelled to say, "Sad, Sad, Sad".

Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate Most agents, and sellers never look at the numbers. They should. The market reality could take your breath away.

I hated to hear that Jim. Your only 2 hours from me and some of our business comes from Atlanta.

Jim,

Atlanta my be in a market of it's own. Most all other markets have been improving, at least on volume. Today NAR reported sales up over 5% nationally.

I think Atlanta had too much building. It also had too much speculative building. Most markets had observed in single family housing, that only a few homes would be built on speculation and only the basic group of models. As you have said, Atlanta banks lent it all. Bad business, the Fed. is going to have to figure Atlanta out on it's own.

Richard

It did!!

Hi Jim: I rarely look at the expireds or withdrawns, but seeing your numbers, I think I should. Thanks for giving me that idea, as a 4-1 ratio is awful. It means sellers aren't in touch with reality -- which is nothing new -- but it's extremely important in a market such as yours where sales and prices are declining.

June Tassillo - Your Realtor for Life! (Classic GMAC Real Estate - Franklin, NC 28734) Well it is interestig to see how quick the decline is here. I know we led the nation in no money down for a long time. This is the price to be paid. The no money down buyers as a whole are the ones that are bringing down the market. "Jingle keys!'" No equity, not a problem...we can walk away!

Richard Stabile Bergen County New Homes Builder Realtor (REMAX real estate associates) Richard I know you are right. Most markets are not this bad. These numbers are awful.

Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate Lenn what is really interesting is the numbers are so transparent here, I did not have to include all the details. It was easy spotting this trend.

Elizabeth Weintraub, Sacramento Real Estate Broker, 916.233.6759 (Lyon Real Estate) The sellers in Atlanta for the most part i the last few years purchased their homes with no money down or they borrowed the equity out for their cruises and Mercedes Benz. They cannot get that money twice. Very foolish to touch the equity in a home.

Jim, Our sales are down as well except in PW County. Where is the 5% increase that NAR is touting? Karen

MAR

It's stunning when you see the actual numbers. Wow, just wow.

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