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Atlanta Real Estate Market Trends July 10

July 10, 2008

Let’s take a look at where the North Atlanta real estate market is today.

Our new readers will see the geographic market area defined here.

We’ve been tracking market trends for the north Atlanta market for several years. Reports for zip codes in our market area are updated weekly. Trends in pricing and inventory are updated in real time.

The table below is a snapshot of multiple listing sales data reported by the First Multiple Listing Service (FMLS). Information, analysis and opinions are solely those of this author, and are not compiled in any way by FMLS.

Information collected includes the number of homes for sale in our real estate market, the number of homes for sale that are pending- under contract, the number of homes sold this year-to-date, and the number of homes sold for the same period last year.

The data shows the average sales price down 2% from the same period last year.

	Market	30062	30066	30068	30075	30004	30005	30022	30097
For Sale	8253	576	443	341	628	731	314	660	474
Avg List Price	584K	450K	381K	566K	622K	758K	545K	679K	856K
Pending	908	67	62	37	56	66	41	80	40
Avg List Price	386K	339K	250K	473K	476K	504K	449K	412K	540K
Days on Market	87	91	66	56	90	93	82	94	103
Sold This Yr-to-Date	3380	327	222	140	246	239	156	295	162
Avg List Price	389K	331K	306K	453K	405K	545K	481K	386K	595K
Avg Sales Price	370K	318K	292K	433K	387K	523K	456K	366K	563K
Days on Market	87	78	77	71	76	102	77	78	114
Sold Last Yr-to-Date	5517	459	359	236	393	427	249	494	258
Avg List Price	391K	345K	306K	458K	421K	525K	414K	411K	594K
Avg Sold Price	380K	336K	299K	443K	411K	472K	401K	399K	571K
Days on Market	69	57	67	61	65	78	55	63	89
Supply in Months	16	12	13.6	16	16.6	20	13.6	15	19

The volume of sales - the number of houses sold - is down 39% from the same period last year. Plain and simple, there are not as many buyers buying. This percentage has been fairly stable for more than a year.