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My Examiner article entitled “Condo, loft and townhome prices on a 3 year slide”

This article first appeared at The Intown Atlanta Examiner’s page at…

The focus of most of the articles at The Intown Atlanta Real Estate Examiner’s page will be on single family housing, but a question arose today on the Trulia Voices “Question and Answer” forum that merits a little more examination.

The question is “What is the median sales price for a condo in Atlanta?”

That’s a fairly easy question to answer but a few folks requested more geographic clarity, and some questioned the intent so the questioner, a guy named Mark, further explained “I would say for the whole metro. Overall, I am looking into a condo but want to know their value in relation to a regular home…”

Here’s the answer:

$144,000.00 through the fourth quarter of 2009…was $164000 in 2008 and $174000 in 2007.
Condos, lofts and townhomes combined.
The information comes from analyzing the First Multiple Listing Service data for sold listings across eight counties – Cherokee, Cobb, DeKalb, Douglas, Forsyth, Fulton, Gwinnett, and Paulding.
That’s a 3 year slide alright…

median condo sales prices by quarter 4Q2009

Furthermore, median sales prices were lower in each quarter after the second quarter of 2007, until some stabilization occurred during 2009.
The median sales price during the fourth quarter of 2009 was -5.8% below that of the fourth quarter of 2008, but was nearly equal to that of the previous quarters in 2009.
By comparison, Single Family Detached residence sales prices increased by +.6% in the fourth quarter of 2009, compared to the fourth quarter of 2008.

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