July Home Sales Report For Atlanta
Posted by Ben Hirsh on Tuesday, August 24th, 2010 at 11:17am.Today, the National Association of Realtors released national sales figures for the July housing market. The report shows declines in the number of transactions throughout the country, but an increase in the average sales price.
I tend to dislike nationwide housing statistics. Real estate is an extremely location sensitive investment and just because Boise is not looking so hot does not mean that that has any bearing on the homes selling in Buckhead this month. That said, there are some interesting things that come out of this report:
- Almost 1/3 of transactions during July were cash buyers (The smart money is taking advantage of the current deals. 80% of my clients closing next month are 100% cash buyers!)
- The average national sales price rose .7% over July 2009 prices
- The number of homes sold in the South was 21.1% lower than the same month last year
So let's get local. How did Metro Atlanta fare last month? I am glad you asked:
Atlanta Home Sales
July 2010
4079 properties sold in metro Atlanta, a 26.4% drop from 2009
$209,369 average sale price which is a $4,361 increase from 2009
The average home sold in 87 days....8 days faster than last year
Most of our market areas fared better than the averages shown above. We have noticed a significant increase in activity over the last 3 weeks as people take advantage of great Atlanta home prices and phenomenal interest rates that are at all-time lows!
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