Single family home sales are down 40% year over year across Atlanta, according to Steve Palm's recent Smart Numbers report. Knowing that, I decided to get hyper-local, and research my neighborhood, and make some judgments about my specific submarket, and our immediate competition. In doing so, I get to check out Steve's research and see how it holds up on my streets. On the bright side, the average sales price for new or newer houses like mine (built in 2003 or later) in my area of Atlanta is up about 6% from 2006 over 2007. I live in Hawthorn Park, a 47 home neighborhood with a 6 acre creekside forest and other common areas, built in 2003 in the heart of Kirkwood, and about 1/2 mile from Oakhurst. I like to say that I live on an island in the middle of Kirkwood. Back in 2003, just about everyone paid less than $400,000 for a minimum 3/2/1 with a garage, maybe a basement, maybe a BIG bonus room, and definitely lots of nice features. Like nice, big kitchens. And, nice open … [Read more...]