Atlanta Residential Real Estate Report compared to national average

Real Estate Agent with Keller Williams Realty

Today the reports from our MLS show a difference between what happened in the Atlanta Market vs. what happened nationally for September.

By Tim Paradis, AP Business Writer reported that nationally home sales jumped 9.4% and was the highest level in two years.  Locally, the metro Atlanta area MLS reports that for single family detached homes the September number declined 18% compared to 09/08 - that is a pretty big difference.

What causes the difference - I do think that all the rain/flooding had contributed to it - but I was still out showing homes.  I also think buyers are still thinking there could be better deals out there.  Also, with the floods one of my closings was delayed because the mortgage company wanted the appraiser to go back to the property to verify it was not damaged - I do not know how common those delays were but it will work through the system by the end of October.

What I have seen is that homes that are priced right, in good condition are selling - buyers are very choosy right now.  This past weekend a home that was priced at $350K was decreased to $337K on Friday - on Tuesday when we submited an offer it has received 4 offers the day before.  It seems like the homes my buyers are attacking multiple offers. 

Real estate truly comes down to supply and demand, inventory levels are coming down - in fact at the end of September we were at the same level as January 2006 - what I have noticed is there are a lot of homes on the market but not a lot of homes in "selling shape" - those that are go quickly.

If you are moving to Atlanta and are interviewing real estate agents for the job of helping you find your home - call me at 770 722-7010 - I would love to tell you why you should use me as your agent.

Comments (1)

Associate Broker Falmouth MA Cape Cod Heath Coker - Falmouth, MA
Heath Coker Berkshire Hathaway HS Robert Paul Prop

Now you can call it HotLanta again! Good for you and your market.

Oct 23, 2009 04:06 AM