Latest Atlanta Real Estate Market Stats – The Market is Looking Better!

So, from the viewpoint of a Listing Agent Atlanta GA, how does the Atlanta Real Estate market look these days?

Let’s take a look at Metro Atlanta’s Real Estate market for 2011. I will be looking at the Case Shiller Index for some guidance. I am using the Case Shiller Index because it is widely quoted by Real Estate Experts, Wall Street TV Shows, Financial publications, etc. Most of us have heard of it even if we don’t know all the details.  It’s beneficial to every Listing Agent Atlanta GA and every Buyer Agent in Atlanta, GA and the Realtor you hire should be using it.

Case Shiller is an index of home values. That is different from “average sales price” or “median sales price”. The latter prices are indicative of what has actually sold. Consequently, if lower priced homes are selling better, then the average price for a home will show a lower value than what the higher priced homes may actually be worth in the market. The Case Shiller index shows all of Metro Atlanta. However, when someone buys a home, they actually buy on a specific street in a specific part of town or school district. Since all real estate is local, there could be significant discrepancies in certain markets. Some markets have held their value fairly well while others continue to decline.  A listing agent Atlanta Ga will be able to provide you this information.

Looking at the most recent Case Shiller (published September 2011 – this report looks at home data 60 days in arrears), July 2011 shows a 0.22% increase in prices over June 2011. Currently, the index is similar to June 2000 results. Yes, I said June 2000! According to this index, the peak of Metro Atlanta’s Housing Market was July 2007. Since that timeframe, home values have dropped 23.39%. December 2010 appears to have been our bottom and shows a value drop of 26.68% from the peak. Therefore, the good news is that we are up 3.29% from our bottom.

Here is a comparison of the current Case Shiller index to past home purchase indices:

Homes purchased in 2000 – up 1.28%
Homes purchased in 2001 – down 4.09%
Homes purchased in 2002 – down 7.65%
Homes purchased in 2003 – down 10.56%
Homes purchased in 2004 – down 13.60%
Homes purchased in 2005 – down 17.75%
Homes purchased in 2006 – down 21.50%
Homes purchased in 2007 – down 22.01%
Homes purchased in 2008 – down 14.75%
Homes purchased in 2009 – down 3.55%
Homes purchased in 2010 – down 1.15%

Things are getting better. Analysts have predicted that 60% of all sales in 2011 will be from foreclosures and short sales. The good news is that banks are hesitant to “flood the market” with foreclosures that will drive down the values even further. I recommend you get with a good Listing Agent Atlanta GA to determine if it’s a good time for you to sell.  It’s also a good idea to have an experienced Buyer’s Agent to help you make the right selection and get the best deal.

An awful lot of people bought in areas that are still in decline. Had they sought out an experienced Atlanta Realtor, they may have made better choices.

Listing Agent Atlanta GA Contact Information:

Tracy Anderson and Associates, Remax
1189 S. Ponce de Leon Ave.
Ste. 101
Atlanta, GA 30306
(770) 826-5907

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