While waiting for a client to arrive at the office yesterday another agent asked what I thought about the latest statistics released by the National Association of REALTORS. I asked if he was referring to the across the board 28% downturn in sold properties from June to July that was announced earlier this week? That was exactly what he was talking about. I told him that I had just written an article about how the numbers from NAR were totally skewed as far as the Northeast Atlanta Real Estate market is concerned.
The more I thought about the statistics that were compiled for that last blog article the more I realized that I left out a very important set of statistics…The Year-To-Date sales figures for both years. So here are the numbers:
|
Area |
1-1 to 7-31 Sold 2009 |
1-1 to 7-31 Sold 2010 |
|
North Fulton County |
1266 |
1460 |
|
Forsyth County |
1160 |
1336 |
|
Gwinnett County |
4344 |
4388 |
|
Total |
6770 |
7184 |
The Year-Over-Year numbers above represent a 6.12% increase in closed transactions in Northeast Atlanta. WOW…In every area the number of closed properties is up Year-Over-Year for the same time period. OK NAR where were these type numbers reported? How do these numbers tie into the 28% downturn in real estate sales? One again folks…Real Estate is Local! To some areas of the nation that 28% number may very well be good news…Just not in the Northeast Atlanta market.
Now that you have the complete statistics, what do you think?
{ 6 comments… read them below or add one }
Hi. I try to stay close to the Atlanta market. How do you see it looking heading into winter? I would value your opinion. Thank you.
Rodney | new home building´s last blog ..Top Tips for Designing an Energy-Efficient New Home
I was doing some research and came across this site. Must say that this information is what I was searching for! Keep up the good info. I just Saved as a favorite, Hope that you’ll come up with additional stuff such as that.
Jeremy Smiley – Short Sale Specialist – Fresno, CA´s last blog ..FUNNY VIDEO – Quantitative Easing and More BS from The Treasury!
In this market especially, I take the national numbers with a grain of salt. It seems there are “pockets” of activety regarding both demographics and price points. I think it is going to be that way for a while. I deal a lot in waterfront property and there is definately a price point that buyers “perceive” as a good deal and pull the trigger.
Buyers are shooping so much nowdays they know a good deal when they see it.
Russ Fielden
Broker-In-Charge
Southern Coast Realty
Beaufort, SC
This is great analytical stuff. I enjoyed reading this post.
Dan Statlander
http://www.statelandbrown.com
(Real estate experts in Boca Raton Florida)
Couldn’t agree more with your point that it all boils down to where you are practicing. Also, focusing on statistics can lead to skewed view of the local market which is never good for anyone engaged in this field.
The best real estate investment has been and will continue to be in residential real estate because residential real estate can be profitable. To buy a residential investment property that would have a good potential of gaining value. The most important is it’s time to buy now.