Many times I am asked when I think we will be coming out of this down real estate market. I think we are there. Will we be showing a rapid recovery? I don’t think so. Will we be making a fairly constant recovery? The Atlanta Real Estate market has a reputation for being slow and steady and that is what is anticipated with this recovery. Let’s take a look at how the Second Quarter of 2010 faired vs the First Quarter.
Forsyth County Summary
The second Quarter of 2010 in Forsyth County shows substantial growth. 990 properties went Under Contract and there were 724 closings. Compared to the First Quarter of 2010 this represents an increase of 299 properties that closed or an increase of 70.3%.
North Fulton County Summary
The second Quarter of 2010 in North Fulton County was active. 1,042 properties went Under Contract and there were 776 Closings. Compared to the First Quarter of 2010 this represents an increase of 301 properties that closed or an increase of 63.3%
Gwinnett County Summary
The Second Quarter of 2010 in Gwinnett County was robust. 3,377 properties went Under Contract and there were 2,252 Closings. Compared to the First Quarter of 2010 this represents an increase of 740 properties that closed or an increase of 48.9%.
Looking Forward
As we are into the Third Quarter, it appears that the Northeast Atlanta Real Estate Market will continue to make progress towards recovery. According to the July Case Schiller Report, which is reporting May 2010 data, home prices increased 2.13% vs the previous month in the Atlanta Market. This is good news for sellers and provides buyers with the warning that it is time to get off the fence.
Looking at the data it is pretty safe to say that we are bouncing off the bottom of this market. If you know someone looking to buy a home please let me know. If you know someone that desires to sell their home, I will be happy to meet with them and go over one of the most aggressive home marketing plans in the Region.
On a closing note, School has started back…Watch Out For The Kids!