One questions has come to the forefront throughout this entire recession…
Are any homes actually selling?
The answer is YES! But there are factors one must observe when offering their home to the market. One main reason many homes are selling is due to the COMPETITIVE PRICING of each individual home. This is a buyers market and what comes with this type of market is INCREDIBLE DEALS! The Atlanta housing market has been down for 13 consecutive quarters. This is an amazing statistic, but one can easily see the effect…incredibly low prices. In November, there were 3,630 closings of detached single family homes. This is a 32.9% increase compared to November 2008. As the supply of homes decreases through the next few months, do not expect prices to remain this low. Here are a few examples of competitively priced homes that have recently sold in a DOWN market.
Twelve Atlantic Station
This owner had over $400k invested in this beautiful condo, but realized the need to drop the price significantly. We just closed this week for a sale price of $199k. What a Deal!
Fairhaven Circle (Buckhead)
This home was listed by Margie Stockton and received a full price offer of $439,000 within 24 hours of being listed. Once again, competitive pricing worked its magic.
Stovall Bloulevard (Brookhaven)
This beautiful home in the heart of Brookhaven is valued at over 1 million. The sellers quickly realized they would not receive that type of value in this market. They dropped the sale price to $925,500 and just closed this past week for $840,000. A fantastic deal for the buyer!