Real Estate Market Report for Decatur GA - I was reviewing some numbers from where our Decatur GA real estate market was in June of 2009 to now, 18 months later. I often hear people say, oh, I'm waiting until spring to put my home on the market. I think that's an outdated way of thinking. Why?
Check out these numbers: For June 2009, 13 Homes sold ranging in price from $165,000 - $680,000. In December of 2010 we had 28 homes sold ranging from $33,000 to $580,000. This goes to show that homes do sell in the winter and clearly twice as many as in the summer a year and a half ago.
In June of 2009, we had 37 Homes pending sale meaning they went under contract but have not yet closed. List prices range from $21,900 - $799,000. Right now January 2011, we have 14 pending sales with list prices ranging from $84,900 to $599,900. I think the pending numbers could be a little skewed because we are noticing that not every listing agent changes their listing to pending when it's under contract. When we call to check availability of a listing that a buyer wants to see, that becomes very apparent.
In June 2009, 4 were in the Contingency Period which means they are in their due diligence period. Now, we've got 2 in the contingency period.
Another difference we can see now is that we have 4 homes that are pending existing lender approval. That means they are Decatur short sales that are under contract, waiting on the seller's lender to approve the sale.
In June 2009, we had 194 Active Listings ranging in price from $100,000 to $1,500,000. In January 2011, there are 170 homes actively on the market ranging in price from $39,900 to $900,000. This number shows a reduction in listing prices. Sellers are realizing that our Decatur GA real estate market has changed and in order to sell, they must be priced right.
To sum it up, there's a lower number of active listings, lower prices and a higher number of sold listings. This real estate market report is for Decatur, GA 30030 zip code only and does not include condos, multi family homes or commercial real estate. It's covers single family homes only.
If you are thinking of buying or selling a home in Decatur GA, contact Jen Bowman, Broker Associate with Keller Williams Realty Atlanta Partners at 404-456-5024.
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