Sometimes, when forecasters miss the mark a little, it can actually be a good thing. Such is the case for Atlanta real estate market conditions August 2009, when the occurrences predicted by experts actually went the other way – and it didn’t hurt buyers in the least. What are we referring to?

When we discussed the Atlanta Atlanta market conditions for July 2009, assertions by real estate experts led to predictions that Atlanta appeared to be a bottoming out market. However, it turns out that some forecasters were wrong! Housing analysts who said that quarterly improvement (in other words, rising prices) would occur are still waiting for their calculations to materialize. How do the numbers reflect this?

The inventory of homes for sale in Atlanta (11,271 new and resale homes) share a median price of $225,000; this was a 2.2% month-over-month decline. For the foreclosure market (currently a popular option for Atlanta buyers), this is especially the case; the 6,097 foreclosed properties in Atlanta decline 3.8% in median price since August.

However, there is one category of Atlanta real estate that has shown enough improvement to warrant rising prices: the new home market. The median price of new homes in Atlanta, which is $376,840, experienced a 1.9% climb during August. So, if a home in a prestigious gated community or other brand new home is of interest to you, it’s wise to start the buying process before prices rise any further. Should you wait it out if a resale or foreclosed property is your aim? Consult with a trusted local agent to get the right advice.