ATLANTA GA MARKET REPORT - DECEMBER, 2008 in REVIEW

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Real Estate Agent with Berkshire Hathaway GA Prop

What a pleasant surprise to see December '08 out-perform November '08. In November we saw only 2,471 detached family units sold while in December we finished with 3,212 units. Not bad for a month usually devoted to Holiday shopping, parties and time with family and friends. Just as interesting, is an increase in average pricing: $204,800 in December while November average sold price was $196,833.

Attached single housing faired about the same:  December closed with 476 units while November '08 closed with 367 units. And, pricing on attached single family homes also followed suit with the detached: December '08 the average sales price - although well below December '07 - was $168,436 ahead of November '08 coming in at $160,453.

So let's take a look at December numbers:

According to a January 27, 2009 article in the Atlanta Journal Constitution by Michael Kanell and Kirsten Tagami, nationally home sales were up 6.5 percent from November to December. However according to the same article, Steve Palm, president of SmartNumbers (Marietta research firm), stated sales for the Atlanta area were down 14 percent December '08 compared to the same time one year ago. The overall concensus is that the lower interest rates are definitely encouraging buyers to go out and buy! Even though we are only looking at a one month increase, after the year we have just had I think we will all agree...WE'LL TAKE IT!!!!

"Act as if you have already achieved your goal and it is yours."  - Dr. Robert Anthony

 


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Janice Slaven

Suwanee Georgia Real Estate
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