The frigid temperatures and snowstorms we experienced recently here in the North Metro Atlantia community as well as all along the Eastern seaboard hit the real estate market hard. People are not looking for a new home when the wind and weather will not allow them to journey outside of the house. The impact that these arctic blasts had on January 2015 North Metro Atlanta home sales is significant.
The First Multiple Listing Service (FMLS) reported that a total of 975 North Metro Atlanta homes were sold between January 1-31, 2015. That is a 62.9% drop off from the 2628 sold during the first month of 2015. This can largely be contributed to the unseasonably icy weather that hit our area at that time. Typically, we see sales well into the mid to upper 2000s. Homes in the $200,000 to $299,999 made up 22.9% of total sales, with 11.8% of them falling in the $300,000 to $399,999 price range.
The average sale price for a North Metro Atlanta home was $237,393. This was 6.6% lower than the same time last year. However, it is also the second highest average in the last five years. Of the total 975 single-family homes sold in January 2014, 66 of them were purchased for less than $50,000. One adventurous soul purchased an abandoned single-story, 3 bed/2 bath traditional home for $3000 after just seven days on the market. On the other hand, 10 North Metro Atlanta homes sold for over $1,000,000. The highest price paid for one of these beautiful properties was $3,595,000. That home was a 7 bed/9.5 bath, 8677 square foot Harrison Design estate on over one acre of land in the Old Londonderry neighborhood of Atlanta.
We don't usually think about how many different ways weather can affect a community. Businesses have to shut down because employees cannot get to work. Kids stay home from school. People can't get out to go shopping, see movies or do much of anything else. As you can see, the weather can played a major part in January 2015 North Metro Atlanta home sales as well. We will have to wait until next month to see how the weather has affected February's sales. Don't let the weather dampen your spirits when it comes to buying a home. There are plenty of things we can do to get you ready for when the time is right. Contact your North Metro Atlanta REALTOR® to start planning your next move now.
Laura Andersen, Keller Williams Realty Partners, your North Metro Atlanta REALTOR®
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