Constantly we hear the news about the real estate market. Unfortunately the news typically is a Macro Market view otherwise known as a National Market level. Does that affect our Decatur market? Sure it does because when the news says the market is crashing everyone panics which makes problems grow. Here at the Castleberry Team we have decided to turn the national news off and focus more on the local numbers. Each month you can expect the new report showing what has changed. This report is geared towards area 52 which is Dekalb county inside 285, north of I20 and excluding City of Atlanta.
To put things in persective we decided to look all the way back to when the market was still in its peak, we picked the date of June 2007 as this was before Homebanc closed its doors and the banking industry hit the meltdown. Here is what we found Average Sales Price was $342,973, Days of market for homes to sell was 62 and the number of homes that sold was a staggering 223. Now remember June is historically the busiest month of Real estate in the Decatur Market.
The latest numbers released to compare this to is Feburary 2009 and here is how it stacked up. Average Sales price $222,189 Days on Market 76 and number of homes sold 89.
When compared our average sales price is only 64.78% of what it was in the high of the market and we are at 39% for number sold.
What can we expect? Fortunately if I had a crystal ball I would say you can watch the number of sold homes to drastically increase. I think you can expect the average sales price to bounce around but stay pretty close to the range that it currently is.One of the major factors that has driven this number down is the foreclsoure market. Would you believe that recently there were 3 homes in the Decatur 30032 zip code under $15,000!!!
Come back soon to see the release of March's numbers.
| Information herein is provided by Seller and is, therefore, not guaranteed. |