METRO ATLANTA REAL ESTATE MARKET - MARCH, 2011

By
Real Estate Agent with Berkshire Hathaway GA Prop

ATLANTA REAL ESTATE MARKET REPORT
(MARCH 2011)

  

HUD and the U.S. Department of the Treasury released the March edition of the Obama Administration's Housing Scorecard. Nationally, the numbers continue to reflect how fragile our housing market is overall. The report showed dips in home sales and prices. The continuation of foreclosures is keeping home prices depressed. Locally, we saw a 10 percent decline in sales March 2011 compared to one year ago. 

  

NUMBER OF HOMES
SINGLE FAMILY DETACHED
MARCH 2010 - MARCH 2011

  

AVERAGE PRICE PER SQUARE FOOT
Single Family Detached
March 2010 through March 2011

The gain in home values continues to struggle in our Atlanta housing market. March saw an overall decline of approximately 10% in our home prices. Overall the Atlanta real estate market has been removed from the "depressed" market category by most lenders. However, there are still some areas of Atlanta that are still considered declining and this does have an impact in loan down payment requirements. It is important to know before you buy if you are looking in a "depressed" area or not.

 

  

AVERAGE DAYS ON MARKET
Single Family Detached Homes
March 2010 through March 2011

March gave us a more normal days-on-market outlook. With an average of about 97 days on market, this is an improvement of approximately 16% compared to one year ago.

 

MONTHS of INVENTORY
Single Family Detached Homes
March 2010 through March 2011

 

 

Graphs were created with permission from Trendgraphix, Inc.

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Janice Slaven

Suwanee Georgia Real Estate
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