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Spring 2012 Market Update
Buyers have returned to the Greater Atlanta marketplace with a significant upturn in activity in the last 60-90 days. Now is an exceptional time to buy a home in Midtown Atlanta, prior to the anticipated return to appreciating real estate values. With a significant selection of homes available at all price points, historically low mortagage rates and yesteryear home prices, if not now when ? Call for more specific information on value priced opportunities....... 404-441-1046.
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| Average Home Price | $325,000 - View Graph Trend |
| Average Price Compared to Last Year | Up 0-5% |
| Average Time on Market | 60-90 days |
| Best Selling Price Range | $250,000 - $299,000 |
| Worst Selling Price Range | $1,000,000+ |
| Prices As % of Asking Price | 90-95% |
| Existing Home Prices for the past 90 days are? | No Change |
| Market Trend | Increasing |
| Buyers’ or Sellers’ Market | Equal buyers and sellers |
| Buyer Activity for the past 90 days in Midtown Atlanta is | Increasing |
| Seller Activity for the past 90 days in Midtown Atlanta is? | No Change |
| Multiple Offers? | Yes |
| Multiple Offers Commentary | The return to market normalcy has contributed to increased competition for value priced real estate. |
| What Percentage of the Current Housing Inventory are Foreclosures and/or Short Sales? | 15-20% |
| Is Financing Available For Qualified Buyers? | Yes |
| Comments on Financing For Qualified Buyers | Activity has spiked significantly in the prime Greater Atlanta neighborhoods in the most recent 60-90 days. Qualified buyers are currently in an advantageous position. |
| Housing Inventory | Good supply - Some Prices |
| Greatest Activity | Investors |
| Reason to Buy/Sell | Job Growth |
| Nearest Metro Area | Greater Atlanta |
| Housing Hot Spots | The Greater Atlanta marketplace has stabilized and demand for Midtown and North Atlanta homes are always considered Atlanta’s primary ’Housing Hotspot’. |
| Average Sold Price | $325,000 - View Graph Trend |
Midtown Atlanta Local News
Agent quarterly survey shows growing optimism toward a housing market recovery
End of tunnel, meet light. Real estate agents have been imagining that vision for a while, and first-quarter optimism in 2012 has some saying the road to recovery could be just around the corner.
Much of the upbeat attitude from HouseHunt's market condition survey stems from tighter inventory and houses not remaining as long on the market. Of agents reporting, 38 percent said inventory was tight in their cities, compared to 32 percent in the fourth quarter of 2011 and 13 percent at the beginning of last year. Regarding time on the market, 30 percent reported houses selling in 60 days or less, compared to 22 percent in the previous quarter and 10 percent at the beginning of 2011.
Click here for full article...
End of tunnel, meet light. Real estate agents have been imagining that vision for a while, and first-quarter optimism in 2012 has some saying the road to recovery could be just around the corner.
Much of the upbeat attitude from HouseHunt's market condition survey stems from tighter inventory and houses not remaining as long on the market. Of agents reporting, 38 percent said inventory was tight in their cities, compared to 32 percent in the fourth quarter of 2011 and 13 percent at the beginning of last year. Regarding time on the market, 30 percent reported houses selling in 60 days or less, compared to 22 percent in the previous quarter and 10 percent at the beginning of 2011.
Click here for full article...
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Mortgage Rates
– May 28th, 2012 –
---------------------------------
30 yr. fixed rate: 3.82%---------------------------------
15 yr. fixed rate: 3.11%
30 yr. jumbo rate: 4.38%
15 yr. jumbo rate: 3.61%
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