AUGUST 2012 REAL ESTATE NEWSThe Housing Market in Atlanta and Georgia. The July numbers have been crunched, and there is modest good news across the board for the Atlanta and Georgia housing markets. The Georgia Association of REALTORS(R) describes the housing market as having been the "headwind" of the economy prior to 2008, now being the "tailwind". For the state, inventory is down, with a 30.9 decrease in July. Statewide pending sales were up 30.9. The median sales price increased 2.3% to $116,500.
A year to date increase in closings in Metro Atlanta has been reported, with a small decrease in the average sale price from the year to date average in 2011. Across the board in Metro Atlanta, the average sale price of single family detached homes in July indicates a decrease 33.27% since April of 2007.
There is reason for some optimism for a slow recovery, depending on an improvement in the unemployment number which was 9.3% for metro Atlanta and the State of Georgia in July. Builders are beginning to build again. Interest rates are ridiculously low, and any qualified buyer should take advantage of this perfect storm! Resale homes are selling, too, especially if they are clean and have updated kitchens and baths. Supply is down. We just need to get Demand up!
Please don't hesitate to call or email if you'd like an update on what's been selling in your neighborhood, or if you just want to say hello! I'd love to hear from you!
Gwinnett County Parks & Recreation - Yellow River Park
I'm a walker and a nature lover, and plan to feature a different Gwinnett park each month. The photographs above are from the Yellow River Park in Snellville. If you live in the area, you may have visited. It offers a wonderful walking/biking path to stunning views of the river shoals. It is located off Juhan Road, just south of Stone Mountain Highway.