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Atlanta Home Prices on the Rise, While Some Condos Cut Prices

by the zac team @ RE/MAX Greater Atlanta

Hello, neighbors!

 

If you've been waiting for home prices to "bounce" before selling your home, now may be a good time to pay attention. The Standard & Poor’s / Case-Shiller Home Prices Index showed that average Atlanta home prices rose 2.3 percent from June to July, which outpaced the national average of a 1.6 percent increase. The AJC reported that, “In metro Atlanta the average home price has recovered to levels last seen in February and, before that, in May 2001. But prices remain 20 percent below the peak in June 2007.” The Atlanta Business Chronicle carried a similar article, which you can read here!

 

While Atlanta home prices are on the rise in general, some local condo developers are admitting that they've priced units higher than the current market will bear. Here in Atlanta, the luxury condo market seems to have taken on a bubble of its own. The AJC reported yesterday that between 2004 and 2007, only about 24 condos were sold above the million-dollar mark. Yet, somehow, there are more seven-figure units on the market right now than have ever been sold at these prices. And they’re each dealing with the current buyer’s market in a different way. Read the article here!

 

As we learn the most recent statistics, we'll be sure to post them here for all to see. Until then, we're always happy to serve your real estate needs!

Staying positive in a tumultuous Atlanta real estate market

by the zac team @ RE/MAX Greater Atlanta

As some of you may know, I send out a weekly email to local Atlanta real estate agents with tidbits of industry news, numbers, and advice. Mary McDonald, a reporter at the AJC, picked up on the email and called me a few weeks ago. During our initial phone conversation, she said, "I'm amazed at your ability to stay so positive when everyone else seems to want to jump off of a cliff!" Staying positive is a pretty integral part of my life, and you can click here for the article that Mary wrote about positive-minded people.

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Photo of Zac Pasmanick  Real Estate
Zac Pasmanick
RE/MAX Metro Atlanta Cityside
1189 S. Ponce de Leon Avenue
Atlanta GA 30306
Office: 404-564-7272

 

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