How WE KNOW the Atlanta Real Estate Market HAS Hit Bottom! (part 1)
Aaron and I are especially excited about this month’s newsletter. In it you’ll learn how we know the Atlanta real estate market HAS HIT BOTTOM! We’ve also included Metro Atlanta’s 3rd Quarter Market Stats (exclusive ONLY to Keller Williams agents, provided by Chuck Carr with Chartmasters Inc). We’re not trying to paint an unrealistic picture either. You will see factual graphs and stats that prove Atlanta is at the bottom.
One more thing. This newsletter is brimming with the most current Atlanta real estate data. You will not find these numbers anywhere else. If you know someone who is struggling with a real estate decision or needs honest real estate advice please forward this email to them and encourage them to call us. Then, hit shoot us an email & tell us about them.
Have a great week & hope you enjoy this portion of our newsletter. More to come later this week…
Proof That The Atlanta Real Estate Market Has Hit Bottom
The rate of decline when comparing number of homes sold by quarter has been reversing for the last 3 quarters.
You’ll see on Graph #1 that Atlanta has been in a steady decline in number of homes sold since the 3rd Quarter of 2006. Beginning in the 1st Quarter of this year, the decline began reversing. This goes to show that if you price a home correctly a buyer WILL buy. It also shows that Buyers are finally realizing that, in order to get the BEST deal on a home, they need to be buying NOW.
The Intown Atlanta maket’s Year-To-Date sales are only down by 3% as compared to 23% for metro Atlanta.
Overall, September 2008′s YTD sales were only down 3% in the Intown market compared to 2007. This shows us that the Intown market is making a faster recovery than metro Atlanta. Another bit of good news is that California and Florida are finally reporting positive numbers. All of a sudden Buyers are buying in these 2 states where they weren’t for a while.
Homes are selling FASTER.
Graph #2 shows that in 2008 (the red bar) it is consistently taking less time to sell homes each quarter. 1st quarter=102 days….2nd quarter=82 days….3rd quarter=76 days on market.
A correctly priced home will sell in 37 days.
Hopefully the above graphs & information offer an insightful portrayal as to what exactly has been going on in the Atlanta Real Estate Market – good & bad. As always, we’re here to help, so please come to us with any questions or concerns. You can email Kelly directly or visit us at www.KellySellsAtlanta.com for ALL your metro Atlanta Real Estate needs.
Kelly & Aaron Allen
