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The Metro Atlanta Market of the Moment, Part 2

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We have “Improved Conditions!” –A year-to-year increase occurred in 4Q sales for the first time in the last 3 years –Sales in the <$200K price range rose by 14% compared to the same quarter last year – a recovery will likely start with low-priced properties –Foreclosure sales as a percentage of total sales were up slightly, but some stabilization in “distressed” properties sales may be happening –The % Sales price/Original List Price ratio improved again in 4Q 2009 compared to earlier 2009 quarters and was above that of 4Q 2008 representing the first such increase in the last 3 years –The “Failed” listing percentage is gradually falling from the peak –Supply of listings is much lower than in December, 2008 and is lower in all price ranges, nearing a “balanced” market (6 mos.) in the <$200K price range –Although still high, the percentage of transactions which followed a price reduction was lower in 4Q 2009 than in 4Q … [Read more...]