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MLS Moments - How’s the Atlanta Real Estate Market?

06/03/08 | Kathy Drewien | Category: Atlanta Real Estate, MLS Moments

Tonight’s review of mls activity - homes for sale in North Atlanta, pending contracts, closed sales - is reported in the table below.

After I pulled the numbers from the multiple listing service (FMLS), I went back to previous posts to compare. The missing data is the result of not being included in earlier reports. I’ll update tomorrow.

MAY APR MAR FEB
Homes For Sale 8221 8060 7636 7230
Avg List Price 587,697
Under Contract 1029
Avg List Price 399,823
Avg Market Time 84 Days
Homes Sold 2412 1634 1206 574
Avg List Price 385,947 382,364 384,296 391,739
Avg Sold Price
 367,539 370,081 372,701 377,198
Avg Market Time 90 Days
 92 Days
 93 Days
 95 Days

ATLANTA SELLERS TAKE NOTE:
The average sales price is 95% of the average listing price.

Although the number of homes for sale are increasing, the percentage of homes sold is increasing. Only 8% of homes for sale in February 2008 closed. Tonight’s report shows 29% of homes sold, and yet the majority of May sales have not been updated in the multiple listing service.

This is a good sign of market change.

I need to dig a little deeper into the data for past years to learn what percentage of homes “normally” close.

As always, the numbers are compiled by me using the multiple listing service data. All comments are mine. We continue to report the same geographical area we started tracking in 2005.

Related Reports:
Detailed Market Reports Updated Weekly
Real Time Market Trends for Price and Inventory

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