Real Estate Recovery in Duluth 30096 - Single Family Sold Volume Increasing
The activity for Duluth 30096 single family homes built from 1995 to the present suggest that we are entering into a trend of market recovery. I took a look at this segment of the market using year to date figures from January 1st to September 1st of each year since 2002. 1995 was a year where new construction started growing and continued on a twelve year boom. There were so many builders and developers around it was dizzying.
From 2002 to 2007 we see the incredible growth of the real estate market in Duluth 30096 that so many of us are familiar with. In 2002 99 properties sold for a total sales volume of $20,394,970. The total sales volume peaked at $36,186,749 in 2007 with 134 properties sold. Only 2005 had more properties sold - 155. The times were exciting.
Then we see the very dramatic drop in total sales volume in Duluth 30096 in 2008 and 2009. 83 properties sold in 2008 producing a total sales volume of $20,331,852. In 2009 Duluth 30096 bottomed out down to a low of $12,386,299 in total sales volume with 57 properties sold. During these years we see the mass exodus of builders, developers, and brokers from the real estate industry.
Guess what? The sun is starting to shine again in the Duluth 30096 single family market. In 2010 there is an uptick in total sales volume to $16,728,757 representing 66 properties. And in the same year to date period in 2011, the numbers continue to increase with 90 properties sold thus far for $20,105,582 in total sales volume.
I think it is safe to say we are in a period of recovery in Duluth 30096 even as we contend with the necessity of short sales and foreclosures to clean up the market. The distressed sales continue to put pressure on increasing the average sales price. However, there is positive movement in the average sales price which is another sign of recovery.
Check out my listing at 3535 McClure Woods Drive in Duluth. Priced at $289,000 and move in ready!
NOTE: Data from Georgia MLS. All information is deemed reliable but not guaranteed.
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