ATLANTA MARKET - NOVEMBER, 2008 in REVIEW

As I ran my statistics for the month of November, I took at glimpse at the October Report....OUCH! The average sales price for single family detached homes in October was $218,956. The average sales price for the month of November....$196,833 - a drop of approximately 11.24%. Single family attached didn't seem to experience quite the same decline month-to-month (October to November, 2008). The average sold price for the attached homes in October 2008 was $164,495 vs. $160,453 in the month of November.

So let's take a look November 2008 vs. November 2007:

According to a recent article in the Atlanta Business Chronicle, Friday, January 2, 2009, homes sales in Atlanta was down 16.2 percent compared to the same time in 2007 (data was compiled from the Georgia Multiple Listing Service). Many predict the Atlanta market has not quite found "the bottom". However, my opinion is that every situation presents an opportunity. So with skepticism still front and center it will require extra effort on everyone's part (realtors, homeowners, buyers, the public in general) to see the glass half full instead of half empty.

Quoting Peter McWilliams, "Our thoughts create our reality -- where we put our focus is the direction we tend to go."

Other articles of interest:

Real Estate Outlook: What's in Store for 2009?
Some Deals Will Get Done, But Outlook is Bleak

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MySuwaneeHome.com