North Metro Atlanta Homes Sold Report for May 2014
A total of 3876 North Metro Atlanta single-family detached homes were sold in May 2014. That is 5.6% lower than the 4104 homes sold the same time last year. However, it is still the second highest May sales on record since 2007. The median North Metro Atlanta single-family detached home sold for $225,000. This is a 12.5% increase from the median sales price in May 2013. The type of homes sold during May 2014 ranged from an 1189 square foot, 2 bed home built in 1920 that sold at auction for $4950 all the way up to a 12,705 sq ft, 6 bed home in Peachtree Heights West that sold for $6,900,000.
The majority of North Metro Atlanta single-family detached homes sold were in the $200,000-$249,000 price range (a total of 526 units), with homes in the $300,000-$399,999 range coming in a close second in popularity (a total of 501 units). Almost 56% of the total homes sold in the North Metro Atlanta area spent 30 days or less on the market. That's even better than the 52.6% that spent less than 30 days on the market in May 2013.
What does this mean for North Metro Atlanta real estate? North Metro Atlanta Sellers should be very happy about this news. The average home price has increased, meaning you will be getting more money for your current property. Also, the average days a home spends on the market is decreasing, which means your property will most likely sell in a shorter period of time than it would have in the past. Conversely, though, it also means that it will cost you more to purchase another home to move into once your current property is sold. When you're ready to sell your current home and/or look for a new property, contact your North Metro Atlanta real estate specialist.