Emory Real Estate Market Update - March 2011

Posted on March 4, 2011 by atlantadecaturhomes

 

A recent article in the Atlanta Journal indicated that Atlanta was one of the seven metro areas that have experienced a year-over-year price increase.   Although the increase is small, things are beginning to turn in favor of Sellers, who are sticking to their prices.  It’s apparent that Atlanta home prices have stabilized and are beginning to go up again. 

Statistics compiled by Smart Numbers, who prepare Atlanta real estate charts for the FMLS realtor site,  indicate the following:

• Closed units are up to start 2011
• Average prices are down
• An increase of 2.2% over January 2010 for all closed single-family homes
• Fewer high-end homes closed in January, which reduced the average selling price
• Inventory levels for all single family homes dropped by the end of January 2011 to 40,770, the lowest figure since the end of December, 2005!

Here are the comparison figures for homes sold in the Emory neighborhood in 2009 and 2010.

Fernbank School District

$185,000 – $225,000           2010 Sold – 4             2009 Sold – 0                                 

$225,000 – $350,000            2010 Sold - 18          2009 Sold – 19

$250,000 – $500,000            2010 Sold – 27          2009 Sold – 22

$500,000 – $600,000            2010 Sold – 8            2009 Sold – 7

$600,000 – $890,000            2010 Sold – 11          2009 Sold – 9

  

Medlock School District

 $150,000 – $200,000              2010 Sold – 9         2009 Sold – 9

$200,000 – $300,000               2010 Sold – 27       2009 Sold – 44

$300,000 – $375,000               2010 Sold – 6          2009 Sold – 4

$375,000 – $425,000               2010 Sold – 3          2009 Sold – 1

  

2011 Active Listings 

 $150,000 – $225,000                        Fernbank – 2                       Medlock – 12

$225,000 – $350,000                         Fernbank – 9                       Medlock – 24

$350,000 – $500,000                         Fernbank – 13                      Medlock – 2

$500,000 – $600,000                         Fernbank – 5

$600,000 – $890,000                         Fernbank – 12

 

Emory Real Estate

With Atlanta home prices stabilizing and interest rates posed to increase slightly, this is an excellent time to purchase a home!  Rising home prices indicate a more favorable selling market for Atlanta  homeowners as well.  If you are contemplating the sale or purchase of a home in today’s changing market, you  need good advice! Contact an experienced Realtor who sells in your neighborhood for more detailed information about your market.