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!