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Monthly Sales Report Courtesy of Smart Numbers of Marrietta & FMLS
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| ProspectsRealty of North Atlanta Where you can buy or sell your home in Less Time at Less Cost and with Less Stress |
Last month I started the newsletter with “We are in a holding period for trends. For the 3rd consecutive monthly
reporting period year-to-year closings are up, year-to-year average prices are down, and year-to-year inventory is
down for all single family. I expect this trend to continue through the end of the year.” I can use this again, but change
3rd to 4th, as for the 4th consecutive month closings for all single family were up year over year, average prices were
down, and inventory levels continue to drop.
There were 5,432 closings for all single family in August 2011. This was an increase of 31.2% over August 2010 and
the most closings for an August since 2007. This is also the 1st time since records have been kept that there has been
two consecutive year-to-year percentage increases of greater than 25%. The all time August closings high was 2006
with 7,849. Closings for single family detached in August were 31.4% greater than August 2010. This was the 3rd
consecutive double digit percentage year-to-year increase and the 8th increase out of the last nine reporting periods.
There were 794 closings for single family attached in August 2011. This was an increase of 30.0% over August 2010
and the largest year-to-year percentage increase since May 2010.
The average sale price for all single family in August was $171,497. This is 11.6% below August 2010 and the12th
consecutive year-to-year percentage decline and the 5th double digit percentage decline out of the last 6 reporting
periods.
The lowest average price in our housing down turn is February 2011’s $164,426. August was only $7M higher and I
would say we could test a new low before the end of the year, but declining inventories may prevent this from
happening. Increased demand coupled with lower supplies should stabilize pricing.
The average sale price for single family detached was $179,645 in August 2011. This was 11.7% lower than August
2010 and the 36th year-to-year decline out of the last 45 reporting periods.
The average sale price for single family attached for August was $123,900. This is 10.9% below August 2010 and the
11th consecutive double digit percentage year-to-year decline. The year to date average sale price is $125,290 and
you would have to go back to 1998 to have a lower average annual price.
Expired listings for all single family declined year over year in August. This was the 9th consecutive year-to-year
decline and the 32nd decline out of the last 34 reporting periods.
Withdrawn listings for all single family declined year over year in August. This was the 33rd year-to-year decline out of
the last 37 reporting periods.
Expired and withdrawn listings should continue to experience year-to-year declines as demand has increased, while
inventories have declined.
The available inventory at the end of August for all single family was 36,286 housing units. The last time there was less
inventory was December 2003 and the last time an August was lower was 2002.
The depressed economy continues to provide distressed housing inventory, so lower prices will continue to provide
great deals for buyers the rest of 2011.
reporting period year-to-year closings are up, year-to-year average prices are down, and year-to-year inventory is
down for all single family. I expect this trend to continue through the end of the year.” I can use this again, but change
3rd to 4th, as for the 4th consecutive month closings for all single family were up year over year, average prices were
down, and inventory levels continue to drop.
There were 5,432 closings for all single family in August 2011. This was an increase of 31.2% over August 2010 and
the most closings for an August since 2007. This is also the 1st time since records have been kept that there has been
two consecutive year-to-year percentage increases of greater than 25%. The all time August closings high was 2006
with 7,849. Closings for single family detached in August were 31.4% greater than August 2010. This was the 3rd
consecutive double digit percentage year-to-year increase and the 8th increase out of the last nine reporting periods.
There were 794 closings for single family attached in August 2011. This was an increase of 30.0% over August 2010
and the largest year-to-year percentage increase since May 2010.
The average sale price for all single family in August was $171,497. This is 11.6% below August 2010 and the12th
consecutive year-to-year percentage decline and the 5th double digit percentage decline out of the last 6 reporting
periods.
The lowest average price in our housing down turn is February 2011’s $164,426. August was only $7M higher and I
would say we could test a new low before the end of the year, but declining inventories may prevent this from
happening. Increased demand coupled with lower supplies should stabilize pricing.
The average sale price for single family detached was $179,645 in August 2011. This was 11.7% lower than August
2010 and the 36th year-to-year decline out of the last 45 reporting periods.
The average sale price for single family attached for August was $123,900. This is 10.9% below August 2010 and the
11th consecutive double digit percentage year-to-year decline. The year to date average sale price is $125,290 and
you would have to go back to 1998 to have a lower average annual price.
Expired listings for all single family declined year over year in August. This was the 9th consecutive year-to-year
decline and the 32nd decline out of the last 34 reporting periods.
Withdrawn listings for all single family declined year over year in August. This was the 33rd year-to-year decline out of
the last 37 reporting periods.
Expired and withdrawn listings should continue to experience year-to-year declines as demand has increased, while
inventories have declined.
The available inventory at the end of August for all single family was 36,286 housing units. The last time there was less
inventory was December 2003 and the last time an August was lower was 2002.
The depressed economy continues to provide distressed housing inventory, so lower prices will continue to provide
great deals for buyers the rest of 2011.