Temperatures are cooling off and so are North Metro Atlanta home sales. Traditionally, the end of the year means a slow down in the real estate market. The North Metro Atlanta community is no different. However, while total sales may have been down last month, the prices have increased slightly. Here is a rundown of North Metro Atlanta Home Sales - October 2014.
The First Multiple Listing Service (FMLS) reports that a total of 3084 homes were sold in the North Metro Atlanta area during October 2014. This is a slight 1.2% decrease from the same time last year. North Metro Altanta Home Buyers spent as little as $2500 for a 1950s fire damaged Bungalow and as much as $3,400,000 (list price) for a 5 bed/8 bath European-styled beauty on Andover Dr.
The average sale price for a North Metro Altanta home in October 2014 was $266,162. This was a slight 1.4% decrease from the previous month but a 7.7% increase from the same time last year. This is also the highest average over the last five years. The biggest movement of North Metro Atlanta homes was in the $200,000 to $299,999 range. That's what 23.9% of the total homes sold for. The second most popular price point for North Metro Atlanta homes was $300,000 to $399,999, where 354 homes were sold (11.5% of total home sales). The list price to sale price ratio averaged out to 97% and 41% of the total homes sold went to contract within the first 30 days of listing.
North Metro Atlanta Sellers should be very happy to hear about the increase in home prices. Even a slight increase is good news. During the slower winter months, North Metro Atlanta Buyers are more likely to see less competition. If you are really serious about purchasing a home, don't wait until the busier Spring or Summer times. Contact your North Metro Atlanta REALTOR® so you can start looking now. Whether you're a Buyer or a Seller, you'll want someone with experience on your side.
Laura Andersen, Keller Williams Realty Partners, your North Metro Atlanta REALTOR®
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