Atlanta Real Estate Sales Atlanta Home Sales - July 2009 Update

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Real Estate Agent with Crye-Leike REALTORS® 165062

Atlanta Real Estate Statistics - July 2009


Atlanta real estate market reportThe most recent Atlanta real estate statistics were just released this week by our primary Multiple Listing Service FMLS.  For July single family detached metro area Atlanta homes for sale,  there were 4,325 Atlanta homes sales with an average sales price of $218,840  with a List Price / Sales Price Ratio of 94% and had an average list Price of $232,829 and  the original Average List price was $266,290.  When these numbers are compared the OLP/ SP ratio is 87.4%.  Total Days On Market is running 150 Days.  Sale prices for single family detached set a monthly all-time high of $284,873 June 2007 so we are we are still $66,000 off that peak in home price.  The total dollar sales volume closed for single family detached homes is also a very eye opening number.  In July 2007 it stood at $1,436,081,394  while in July 2009 it was $946,483,658 or a 34% drop in dollar volume.

For the last 28 reporting periods there has been a decline in single family attached homes.  This figure include Atlanta condos and Atlanta town homes.  Combined sales for the entire FMLS reporting area is a mere 655 condos / town homes sold in July 2009 which is a decline of 17.4% from July 2008The average sale price for single family attached was $157,537 in July 2009 a decline of 15.7% from July 2008.

4,982 expired listings for all single family in July and there were 2,122 withdrawn listings for all single family in July.
 
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James Crawford ABR, Broker Associate

 

 

 

 

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Rainmaker
1,045,687
Fred Carver Personal Real Estate Corporation
RE/MAX Camosun Victoria BC Real Estate - Victoria, BC
Accredited Real Estate Consultant

Hi Jim...Great Market report, I like to see you Sales Volume increases and inventory falling, funny how that works, just imagine what would happen to prices if you have no inventory:O)

Cheers, put up lots of Sold Sign around town this week :O))

Aug 27, 2009 03:12 AM #1
Rainer
104,755
Debbie Aldrich
The Watts Group Real Estate - Cottonwood Heights, UT
Salt Lake City Realtor - Salt Lake County, Cottonwood Heights

Hi Jim, It is always good to see what the market is doing in other regions.  Thanks for the Market report.

Aug 27, 2009 03:27 AM #2
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Jim Crawford
Crye-Leike REALTORS® - Atlanta, GA
Jim Crawford Atlanta Best Listing Agents & REALTOR

Victoria Oak Bay Realtor Fred Carver 250-598-2963 for Victoria Oak Bay Homes (Re/Max Camosun Oak Bay & Surrounding Area Real Estate)  Sales in creases are one thing, average price, concessions are another thing.  There are some good things here and some not so good things.

Aug 27, 2009 03:31 AM #3
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Jim Crawford
Crye-Leike REALTORS® - Atlanta, GA
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Rainer
213,140
Barbara Heil-Sonneck
Design2Sell - Atlanta, GA
Home Staging Atlanta

Hi Jim, thanks for sharing this information

I was thinking that it would be great to look at that from an area perspective, Like Buckhead/Midtown, Sandy Springs, Smyrna/Vinings, etc. just a thought for future blogs :-), would also be interesting to see in what price categories. I am not a Realtor any thougths where I could search for this data????

Aug 27, 2009 01:31 PM #5
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Jim Crawford
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Barbara Heil-Sonneck - Home Staging Atlanta (Design2Sell - We Stage Atlanta )  The information is available to Real Estate agents using our First Multiple Listing Service FMLS around the 20th of each month.  Most sales from what I have seen are under 500K.

Aug 27, 2009 01:53 PM #6
Rainmaker
388,619
John Walters
Frank Rubi Real Estate - Slidell, LA
Licensed in Louisiana

Jim your market reflects our nation's economy.  Sending one mixed signal after another.  I don't really know which to believe.

Aug 28, 2009 02:46 AM #7
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Jim Crawford
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John Walters Slidell Real Estate Slidell Louisiana Homes (Frank Rubi Real Estate, LLC)  Well I see a lot of unemployment here, lots of vacant retail, and homes sitting for a long time.  That tells me we are not out of the woods yet.

Aug 28, 2009 07:20 AM #8
Rainer
179,139
Mark MacKenzie
Phoenix, AZ

Jim,

This is a really intreesting stat that I have not seen before, "In July 2007 it stood at $1,436,081,394  while in July 2009 it was $946,483,658 or a 34% drop in dollar volume".

This certainly indicates that agents and brokerages are being hit very hard.

Aug 29, 2009 01:51 AM #9
Rainer
37,160
Jim & Cathy Wood Greater Nashville Area Real Estate
Crye-Leike Realtors, Inc. - Mount Juliet, TN

Jim-

I'm sorry to say that your market may be worse than much of the rest of the country.

Here in Nashville we had 1,773 single family homes close in July, avg, price $234,203 and just 87 days on market.

I have not found the means to identify the "original" asking prices of these homes, but I do know that the average list price to sold price ration was 96%.

Aug 29, 2009 02:39 AM #10
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Jim Crawford
Crye-Leike REALTORS® - Atlanta, GA
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Mark MacKenzie Real Estate Planning  I think most in the is town are in total denial of what is going on.  One thing can not lie... the bottom line.  It would be my guess at the last quarter of the year there will be some brokerages closing and many agents will not renew their licenses.  I beleive it is inevitable.

Aug 29, 2009 11:31 AM #11
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Jim Crawford
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Jim Wood Nashville Real Estate (Crye-Leike Realtors, Inc.)  In Atlanta they also have an Original List Price..because listings were on the MLS more than once.

Aug 29, 2009 11:34 AM #12
Rainmaker
1,248,613
Alan Kirkpatrick
Austin Texas Homes - Round Rock, TX
Alan in Austin

Jim:

Thanks for the market update. It is very interesting to see what is happening across the US. Have a great week.

Aug 30, 2009 09:29 AM #13
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Jennifer Fivelsdal
JFIVE Home Realty LLC | 845-758-6842|162 Deer Run Rd Red Hook NY 12571 - Rhinebeck, NY
Mid Hudson Valley real estate connection

Jim Great market report in a nutshell.  I think many markets have seen the decline in the $ sales volume.   Here is hoping more first time buyers will get into the market thus reducing some of the inventory.

Aug 30, 2009 04:01 PM #14
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Alan Kirkpatrick Austin Texas Real Estate (Austin Texas Homes)  Thanks!  I find it interesting also.

Aug 30, 2009 04:36 PM #15
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Jim Crawford
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Jennifer Fivelsdal, Fishkill NY (Keller Williams Realty Team - Real Estate Agent)  I think the first time buyers are getting laid off.  They are not calling.

Aug 30, 2009 04:36 PM #16
Rainmaker
1,048,025
Bill Gassett
RE/MAX Executive Realty - Hopkinton, MA
Metrowest Massachusetts Real Estate

Jim nice work keeping everyone up to speed with what is going on in your local market. Looks like there is a lot of room for improvement.

Aug 31, 2009 12:26 AM #17
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Jim Crawford
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Aug 31, 2009 12:57 AM #18
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