Finally, there is news to report regarding the Atlanta real estate market; but unfortunately, it’s not good news for sellers. Since November, the median price of homes in Atlanta has dropped a stunning 5% (as the Yahoo! Snapshot below indicates). As for new homes, though, prices have stayed the same. Take a look at the official Atlanta real estate market conditions for December 2010:
Listing Type Number Median Price Price Change
Homes for Sale 9,356 $189,900 -5.0%
New Homes 23 $244,900 0.0%
Foreclosures 4,849 $134,000 +2.3%
However, there is good news if you’re a buyer – really good news! After all, a 5% drop in price is definitely a perk for buyers on a budget. Plus, those interested in Atlanta new homes can rest assured that prices (predictably) haven’t climbed. And there is good news for one sector of the selling population: foreclosure investors. It appears that if you’re in the business of buying up Atlanta foreclosures, you can make a pretty profit this holiday season.
Of course, Atlanta real estate market conditions for December 2010 can morph into greater improvements in the new year. So, stay tuned for news that may be bigger and better in January!