My New Blog

There seems to be so much contradictory information out there right now - one minute you hear home sales are up then the next you hear that the market is worse than ever.  How can this be true?  I've come to realize that real numbers can be portrayed in many different ways.   For example, the #1 agent sounds pretty good...but what if you found out that agent was the only agent in their office...hmm....not so good.

I'm here to give it to you straight.  The good, the bad, and the ugly.  No interpretations here - I'm just going to tell it how it is and let you come to your own conclusions.

First - well we really are the #1 team in an office of 300+ agents AND Keller Williams is the #1 real estate company in the Atlanta Metro area for 2Q2010...(just the facts :) )

Other than that, lets look at the Median Sales Price right...

Median Sales Price

YES - the median sales price has gone up (2.6% in 2Q2010) since 2Q2009.  However, the sales price is still down 12.7% since 2008.  This is why you can't figure out why it feels like prices are still down in your neighborhood even though the media says prices are up.  They are up, but they still have a ways to go to catch up to 2008 prices.

Days on Market (how long homes are listed before they go under contract)

YES - on average homes are selling faster - 109 days is the average which is 26.8% less than 2Q2009.

• Doesn't feel like homes are selling fast in your neighborhood?

• Well let's look at days on market by price point:

• If you're in the $750k - $999k price point then its actually taking more like 331 days to sell your home (3 times longer!).

• If you're in the $500k-$749k its taking close to 200 days!  But if you're in the under $200k price point then its taking more like 90 days (very good news!)

Taking the mystery of days on market one step further, we must look at new homes versus resale homes.

• A new construction home in the $500-$750k price range is taking an average of 745 days to sell (up 40%)!
• Total average days on market for new homes - 353 days!
• Total days on market for resale homes...just 94 days!

Number Sold

YES - homes sales are up in 2Q2010, too! Actually 4.5% higher compared to 2Q2009.   Seem a little off to you?  Well its still down from 2008 by -5.7% (not that bad!).  Again, the ability to drill down to price point sheds a lot of light.

• If you're living in an under $200k home then homes are selling all around you....57.7% of ALL sales occurred in the under $200k price point for a WHOPPING 5,703 total homes!
• If you're living in a McMansion then you think time is standing still- the $1M plus had only 110 homes sell
• The $300k - $499k did pick up 17% from 2Q2009, but still only accounted for 1,571 homes

Looking at these numbers is completely enlightening to me and I love having the opportunity to share it with you.  Understanding what is really going on in our neighborhood right down to Three Branches or the 30188 zip code is imperative.

I welcome your questions - maybe you would like to see this data portrayed differently.  Feel free to follow us at www.Faceboook.com/CastlesByChrissy.  We share lots of great information on a daily basis. Please let me know and I'll do my best to provide it for you!