Atlanta Market Update

Another great update on the Atlanta market from my friends at Stewart & Associates
678-597-5868
lisabrownlow@kw.com
www.cindystewart.com
....


According to the First Multiple Listing Service, there were 4,924 closings for single family homes in February which was a 9.9% decline from February 2006. That's the sixth consecutive period of decline. Condos and townhomes had 743 closings or a decline of 7.1%.

The average sale price in February for single family housing was $254,659. This was an increase of 2.6% from February 2006. FMLS states that with continued demand and increasing inventories, an appreciation of home prices this spring is not expected. Inventories of homes for sale is at all-time highs for Atlanta with over 90,000 listings available. This means homes MUST be priced competitively to sell. Depend on Stewart & Associates for expert advice.

There were 6,161 expired single family detached listings for the first two periods in 2007. This is up 50% from January 2000 and 1,900 expired listings over the same two periods for 2006. Overpriced listings WILL NOT sell in this market--buyers have too many choices.

Average days on market from February, as reported by FMLS, was 90.5 for all single family. The average time on market for homes listed by Stewart & Associates is 68 days.

This recap reports many negative statistics, however, Atlanta's housing market (although softened) has not dropped significantly like some other metro housing markets. Right now is one of the best times to BUY a home, as we have interest rates on the decline again, low unemployment, and affordable homes.
According to the First Multiple Listing Service, there were 4,924 closings for single family homes in February which was a 9.9% decline from February 2006. That's the sixth consecutive period of decline. Condos and townhomes had 743 closings or a decline of 7.1%.

The average sale price in February for single family housing was $254,659. This was an increase of 2.6% from February 2006. FMLS states that with continued demand and increasing inventories, an appreciation of home prices this spring is not expected. Inventories of homes for sale is at all-time highs for Atlanta with over 90,000 listings available. This means homes MUST be priced competitively to sell. Depend on Stewart & Associates for expert advice.

There were 6,161 expired single family detached listings for the first two periods in 2007. This is up 50% from January 2000 and 1,900 expired listings over the same two periods for 2006. Overpriced listings WILL NOT sell in this market--buyers have too many choices.

Average days on market from February, as reported by FMLS, was 90.5 for all single family. The average time on market for homes listed by Stewart & Associates is 68 days.

This recap reports many negative statistics, however, Atlanta's housing market (although softened) has not dropped significantly like some other metro housing markets. Right now is one of the best times to BUY a home, as we have interest rates on the decline again, low unemployment, and affordable homes.
According to the First Multiple Listing Service, there were 4,924 closings for single family homes in February which was a 9.9% decline from February 2006. That's the sixth consecutive period of decline. Condos and townhomes had 743 closings or a decline of 7.1%.

The average sale price in February for single family housing was $254,659. This was an increase of 2.6% from February 2006. FMLS states that with continued demand and increasing inventories, an appreciation of home prices this spring is not expected. Inventories of homes for sale is at all-time highs for Atlanta with over 90,000 listings available. This means homes MUST be priced competitively to sell. Depend on Stewart & Associates for expert advice.

There were 6,161 expired single family detached listings for the first two periods in 2007. This is up 50% from January 2000 and 1,900 expired listings over the same two periods for 2006. Overpriced listings WILL NOT sell in this market--buyers have too many choices.

Average days on market from February, as reported by FMLS, was 90.5 for all single family. The average time on market for homes listed by Stewart & Associates is 68 days.

This recap reports many negative statistics, however, Atlanta's housing market (although softened) has not dropped significantly like some other metro housing markets. Right now is one of the best times to BUY a home, as we have interest rates on the decline again, low unemployment, and affordable homes.