Atlanta Metro Latest Real Estate and Population Figures
Posted by Ben Hirsh on Thursday, September 25th, 2008 at 10:09am.Here are the latest figures published for the Atlanta Metro area.
Despite the recent issues with lending and uncertain house price futures the number of foreclosures in August 2008 was down from the previous year:
- August 2008 7,103*, or one in every 289 homes
- August 2007 8,015
We were also able to witness an increase in the average price of a Condo in the Atlanta area compared to the June average, although the average price of a single family home in the Metro area did fall slightly:
Condos
- Average price of sale in August 2008 - $183,842
- Average price of sale in June 2008 - $179,881 **
Single family Homes
- Average price of sale in August 2008 - $238,854
- Average price of sale in June 2008 - $251,256 **
The number of days on the market also increased slightly for both groups over the same period.
In general the synopsis for the housing market in the Atlanta metro area is still a healthy one with buyers in a very good position due to the continued availability of well priced lending facilities. Fannie Mae sources also report that lending in the commercial buy to let bracket is at very healthy levels across most states of the US.
Population
- August 2008 the Atlanta Metro population was 5.5 million people.
Unemployment
- Unemployment is the Metro area of Atlanta is the highest reported in 16 years with 6.3% of the population officially unemployed in July 2008
This is despite 13 of the countries Forture 500 companies having thier main base in the Atlanta area including; Home Depot, UPS, Coca-Cola and Delta Airlines. This is the 5th largest concentration of Fortune 500 companies in any city throughout the US.
*figures by WWD Business
** figures by ActiveRain
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