Atlanta Real Estate Articles, News, Information & Resources

New Home Sales Set A New Record… But it is not a good one…

Many news sources reported this week that new home sales reached yet another milestone. I said New Home Sales were headed for the “ditch” and here is a bit of evidence that my prediction in early 2006 was spot on!

New single-family home sales dropped to the lowest rate in February since1995, and sales were down about 29.8 percent from the February 2007 rate. This was the report of the U.S. Census Bureau and U.S. Department of Housing and Urban Development. They also state that we have an estimated nearly 10 months of Builder inventory.

I will elaborate on the estimated inventory at another time but here is what is more important now.

What does this mean to you as a Buyer or Seller? [Read more →]

Has the turn started?

We have all heard recently, existing homes sales for February are up by nearly 3% nationally. We also realize that number is an average and some areas of the country are doing better than others. Such is the case for Atlanta .

For Metro Atlanta as a whole, pricing pressures and high inventory continue to trouble some home sellers out there. For all of Atlanta the number of transactions for all single-family (homes & condos) decreased by nearly 37% over February 2007.

The average sales price for single family homes in February was $239,232 which is a 5.4% decline from a year ago. Condos/Townhomes declined over 7% to $177,083. [Read more →]

Well, the numbers are out for December. 2007 is behind us but the road doesn’t seem any less bumpy. Recession is on everyone’s mind. The recent rate cut certainly helps and we can expect more, possibly another 0.5%. But what does all this mean for the housing market?

I’ve been saying for the past three months that we were nearing our bottom and the numbers in Atlanta were stabilizing. Here’s what I mean…

For all of Metro Atlanta the picture may not be quite as bright as North Atlanta but remember that when the national news talks about housing market declines they are generally referring to the West, Southwest and Northeast. For example, take a look at the comparison for single family homes in North Fulton – West of 400 (this area includes the cities of Milton and portions of Alpharetta and Roswell): [Read more →]

Well, as we are ending our year we’re reporting November numbers for you. We’re sure you can tell from the monthly market reports that we always look for the silver lining - the good news that gets buried by all the bad national press. Well, we have it for you and here is the headline:

The Atlanta Real Estate Market hit bottom on October 31 st – begins moving towards recovery!

You won’t see this headline anywhere else but it is true…sort of. Year to date closings for all single family has declined 15% over the same period of 2006. However, closings for condos/townhomes and single family homes for October did exceed September and November closings did as well. Our real estate market here in Atlanta has stabilized. Indications are that closings for December (those numbers will be out late January) will be an increase over the previous months and year. [Read more →]

The Buckhead area of Atlanta (Zip Code 30305 in Atlanta, Georgia) is a historic community located approximately four miles north of the heart of downtown Atlanta with a rich history tracing back to the pre-Civil War era. People familiar with Washington, D.C., sometimes refer to Buckhead as “the Georgetown of Atlanta.”

Buckhead is a distinguished community consisting of beautiful Buckhead Luxury Homes, prominent estates, executive homes and many historic Atlanta Mansions providing residency to some of the areas most well known celebrities and old-money Atlanta families. [Read more →]