With 42.5% of all Atlanta home sales in the 1st qtr of ?12 distressed, the impact of distressed homes on the greater Atlanta housing market is a significant one. They are present in force and their impact influences every aspect of the Atlanta real estate market, they are expected to be around for the foreseeable future.
The metro Atlanta real estate market appears to have bottomed in Jan ?10.
The charts below illustrate just how significant an impact distressed homes have on Atlanta real estate market conditions. While Atlanta is too large an area to be considered as one, the charts below (courtesy of Chartmasters) illustrate that while some areas are climbing out of the mud, others remain deeply mired.
A few key points:
- Statistics show that the Atlanta real estate market bottomed out in January 2010. To some extent it has been a prolonged bottom from ?08 on
- 42.5% of homes sales in Atlanta were distressed in 1st qtr 2012
- Over the last year, distressed home sales in Atlanta ranged between 38.9% and 42.5% of all sales
- 57.9% of sales under 100K, 41.8% of sales between 100K-200K and 20% of sales over 1M were distressed in the 1st qtr 2012
- It is a seller?s market for distressed properties in Atlanta across all price points with a very low overall ??months of supply? of 2.7
- It is a buyer?s market for non-distressed properties in Atlanta above 100K with an 8.1 ?months of supply? volume. Under 100K is a seller?s market for non-distressed homes
- The Dunwoody area had the lowest percentage of distressed property sales for 1st qtr 2012 at 8.1%
- Eastern Gwinnett County had the highest percentage of distressed property sales for 1st qtr 2012 at 66.1%
The charts below reflect the stats from the Atlanta real estate market for the 1st quarter of 2012. These are great indicators of the overall health of the market and of sub markets within the greater Atlanta real estate market. However, we see differences even within the submarkets, often even to school district so keep this in perspective. If you have specific questions as to what the housing trends in your area are, just contact us and sign up below the charts for the free Altos weekly updates for your zip code.
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