Atlanta MLS Listings Keep Rising | 88103 Active Atlanta MLS Listings

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Real Estate Agent with Crye-Leike REALTORS® 165062

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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James Crawford ABR, Broker Associate

 

 

 

 

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Ambassador
1,880,144
Gary Woltal
Keller Williams Realty - Flower Mound, TX
Assoc. Broker Realtor SFR Dallas Ft. Worth
Jim, I'm glad you explained the source of the increased inventory. Sellers would best be smart working with good agents who can keep them grounded in reality and get them market value for the home.
Apr 25, 2008 10:02 AM #1
Rainmaker
259,533
Melina Tomson
Tomson Burnham, llc Licensed in the State of Oregon - Salem, OR
Principal Broker/Owner, M.S.
I think as agents, it is really important to give our clients the facts and not sugar coat them.  Those are some scary numbers.
Apr 25, 2008 10:14 AM #2
Rainmaker
227,956
Gene Wunderlich
1st Action Real Estate - Murrieta, CA
Realtor & Legislative Liaison

Just stopped by to reciprocate and see how bad you guys sucked. I think we're still worse but you're starting to smell.

We're having some fun now. Thank God for blogging!

Apr 25, 2008 12:46 PM #3
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Jim Crawford
Crye-Leike REALTORS® - Atlanta, GA
Jim Crawford Atlanta Best Listing Agents & REALTOR

Gary Woltal - REALTOR® Dallas Ft. Worth  In this marekt we all need facts and a reality check!  Too many buyers adn sellers will be making the wrong decisions based upon their emotions rather than facts.

Apr 25, 2008 01:44 PM #4
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Jim Crawford
Crye-Leike REALTORS® - Atlanta, GA
Jim Crawford Atlanta Best Listing Agents & REALTOR

Melina Tomson, M.S. Salem Oregon Real Estate Specialist  The Atlanta numbers are not good, but there are opportunities and homes are still being sold!  We just closed a few and have another schedualed to close Monday.

Apr 25, 2008 01:47 PM #5
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Jim Crawford
Crye-Leike REALTORS® - Atlanta, GA
Jim Crawford Atlanta Best Listing Agents & REALTOR
Gene Wunderlich - Selling Southwest California Homes / Temecula & Murrieta  Well there is certainly more time to blog!  For use it has allowed us to list and sell a few more properties.
Apr 25, 2008 01:48 PM #6
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