Atlanta MLS Listings reached 88103 today. I predicted earlier this year that Atlanta MLS Listings will climb to all time highs this year. Atlanta MLS Listings may reach as high as 100,000 active listings in our FMLS before the end of they year due to declining sales, increased foreclosures, and a cumulative effect of unsold homes that need to sell and they are just sitting on the market. The Spring Atlanta real estate market has not benefited from the seasonal bounce in Atlanta home sales. Atlanta home sales in the month of March are showing a decline of 35.9% over March 2007 and Atlanta condo sales are off 40.3% from the same period last year. Atlanta Active listings includes single family homes for sale in our Atlanta First Multiple Listing Service FMLS, Atlanta condos and town homes, land/farm, residential lots, multi dwelling units, rentals and Atlanta commercial real estate. March foreclosure filings also rose to all time highs of 11070 new foreclosure filings. The Atlanta real estate market will remain a buyer's market for some time to come, and will only normalize when the excess volumes of home inventories disappear! Even though Atlanta never had the run up in prices that most other areas of the country had, we did have a disproportionate share of sub-prime borrowers. It is those adjusting sub-prime mortgages that are going into foreclosures, short sales, and Atlanta bank owned properties and placing a drag on our Atlanta real estate market. For Atlanta home sellers it will be a difficult time to sell a home unless you are dealing with a full time experienced agent guiding you through he process and advising you. The average price for an Atlanta single family detached home was $246,901 in March or a decline of 7.4% The average price for Atlanta condos and town homes in March 2008 was $180,556 - a decline of 6.8% from March 2007.
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