Duluth GA Real Estate Market Report for December 2010

By
Real Estate Agent with Virtual Properties Realty

Duluth GA Real Estate Market Report for December 2010

 

Active listings: 526 homes are available for sale in Duluth GA priced from $29,500 to $6,750,000.

Pending sales: 90 homes are in escrow priced from $19,900 to $5,635,000.

December sales: 66 homes sold in December 2010. 

  • 43 homes were non-distressed
  • 23 homes were a foreclosure or short sale or 35% of the homes sold in December

In December, 66 homes closed in Duluth Georgia. This is an increase of 6 units, as there were 60 homes that closed in December of 2009.

The Average list price for the homes that closed in Duluth for December 2009 was $304,707.

The Average list price for the homes that closed in Duluth for December 2010 was $309,495.

The Average sales price for the homes that closed in Duluth for December 2009 was $283,774.

The Average sales price for the homes that closed in Duluth for December 2010 was $291,257.

The Average Market time for the homes that closed in Duluth for December 2009 was 86 days.

The Average Market time for the homes that closed in Duluth for December 2010 was 74 days.

 

 4 Year History of Sold Properties in Duluth

Category

2010

2009

2008

2007

Units Sold

715

713

821

1,089

Average Sales Price

$332,301

$304,611

$365,701

$386,001

Distressed Properties Sold

239 or 33% of the sold units

231 or 30% of the sold units

198 or 24% of the sold units

107 or 10% of the sold units

Average Days on Market

84

87

95

75

As you can see in the chart above the sales have dropped significantly and the average sales price has dropped by 14% from 2007. Some of the contributing factors include the amount of competition; increase in the amount of distressed properties (foreclosure and short sale properties) and less buyers in the market.

We will start to see an improvement when the economy stabilizes and more jobs are created keeping the foreclosures and short sales from continuing at the current pace. On a positive note, 2 more homes sold for the year and the average sales price increased $27,690 or 9% increase over 2009. The average time on market decreased by 3 days to 84 days versus 87 days for 2009.

 *All information is from the FMLS and is for detached single family homes only.

 

 Search for all homes in the GAMLS or FMLS 

  

If you have any questions about selling or buying your home in Duluth or in the Northeast Atlanta area give Mark a call at 404-353-0185.

Almost 90% of buyers are searching online for homes so make sure your getting the proper online market exposure to ensure these buyers will not miss your listing.

See Mark's video testimonials.

Mark services the following Northeast Atlanta cities: Johns Creek, Alpharetta, Roswell, Woodstock, Cumming, Suwanee, Buford, Duluth, and Lawrenceville Georgia.

About the Author: The above Real Estate information on Duluth GA Real Estate Market Report For December 2010 was provided by Mark Mitchell. Mark can be reached by phone at 404-353-0185 or via e-correspondence at mark@markmitchellhomes.com. Also visit www.markmitchellhomes.com

Copyright © By Mark Mitchell 2010 *Duluth GA Real Estate Market Report For December 2010*

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Mark Mitchell

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