The numbers are in and in certain cases, they aren’t as bad as you might think. Intown Atlanta’s homes’ prices fell by 11.7% from 2007 to 2008. Phoenix, AZ saw the largest drop in the country: down almost 33% ; Dallas, TX slipped only 3.3%.

Here is some data for Atlanta’s homes for-sale, both good and bad:

1. While the numbers were off from 2006 and 2007, there were 33,856  home sales (closed transactions) in Atlanta in 2008;
2. Atlanta’s median days-on-market, was up by 18%, rising to 84 days;
3. Foreclosures more than doubled from 2007 to 2008 (11% vs. 23.6%). For buyers, this could mean that banks are ready to deal on their properties;
4. 73.1% of all homes listed for sale in Atlanta, did not sell; a too-high listing price is blamed as the  reason;
5. One of every two homes sold in 2008, or 50% of all homes listed and sold, required a price reduction before actually selling. Again, this means that Atlanta’s home sellers are not properly pricing their homes;
6.  The supply of homes for sale, dipped to 14 months of supply in December vs. 19 months of supply in November, 2008.

If you would like more information how to properly price and sell your current home or buy a new one, call or email us. Nancy & Company would love to help – Experience True Experience!

This entry was posted on Sunday, February 1st, 2009 at 7:36 pm and is filed under Atlanta Homes for Sale. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.