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MLS Moments

05/19/08 | Kathy Drewien | Category: Buyers, MLS Moments, Sellers

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

The numbers are compiled by me (not the multiple listing service) using the same geographical area we started tracking in 2005 - marking the beginning of the downward trend in the real estate market.

This week I included data from the same period in 2006 and 2007. You can see the significant drop in the number of houses sold since May 18, 2006. And yet, the average sold price has dropped only a slight margin since 2007, and is higher than 2006.

I included information for subsets of the larger market area:

The average price for current listings has a wide spread between East Cobb and Alpharetta. My colleague in Johns Creek offers insight on the variation.

Sellers take note: homes are selling at 2006 prices.

MLS Market Report - May 19, 2008
2008 2007 2006 East Cobb Roswell Alpharetta
Current Listings For Sale 8146 1699 821 2122
Average List Price 591,701 499,161 602,640 738,014
Under Contract - Pending Close 1030 227 106 249
Avg List Price 392,321 399,064 364,455 504,212
Time on Market 82 Days 71 82 81
Closed Sales - Year to Date 2053 3629 3979 501 233 506
Average List Price 386,576 383,268 360,205 369,221 383,782 483,157
Average Sold Price 367,979 372,014 350,672 350.603 367,750 462,189
Time on Market 92 Days 73 Days 64 Days 82 Days 81 Days 95 Days

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Read Comments

  1. Posted by Susie BlackmonNo Gravatar on 05.19.08 7:50 am

    I do market reports too (my own…) and LOVED your Sellers Take Note message!! Perfect. Many sellers just are not ready to face the facts.

  2. Posted by Kathy DrewienNo Gravatar on 05.19.08 1:16 pm

    Susie, you are SO right!

    We were out yesterday with a client relocating to the Atlanta. So, we traveled all around the area to view a sample of homes in his price range.

    Wow! The number of properties we saw that are insanely priced, and in less than show-ready condition make me wonder about the representation these seller’s are receiving.

  3. Posted by Bo WagnerNo Gravatar on 05.21.08 4:12 pm

    Personally, I am tired of all the negative press out there. I think we’re about to pick up–rates are STILL great and there is obviously a LOT to choose from. I don’t know why any buyer would still be sitting on the fence at this stage???

  4. Posted by Kathy DrewienNo Gravatar on 05.22.08 2:19 am

    Bo, property values in North Atlanta remain strong even though the number of transactions are down. A great number of Atlanta real estate agents, and brokerages, have not survived the reduced volume. Proud to say we are busy, and business is stronger every day!

  5. Posted by Alpharetta Real Estate » Alpharetta Real Estate Sells for $100k More on Average than Roswell and East Cobb Real Estate on 06.12.08 3:44 pm

    [...] more than East Cobb (Roswell and Marietta addresses) and Roswell (Fulton County addresses).  Click Here for all the numbers from Kathy. addthis_url = [...]

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