Although the year ended on a positive note as a result of the ending and reinstatement of the Down Payment Rebate portion of the stimulus package the annual numbers are not very good. Annual numbers are more reflective of volume and prices from 1999-2001.
There were a total of 622 closing for all single family attached units in December, which is an increase of 20.3% over December 2008.
There were 3,357 closing in December for single family detached homes, which was a decrease of 3.9% compared to December 2008.
There were 52,474 closing for all single family units in 2009 which was a decrease of 4.6% from 2008. Far below the record set in 2006 of 81,071 units and equal to total units sold in 2001.
Average Sale Prices
The average sales price for all single family attached units in December was $155,819 which is a 7.9% decrease over December 2008. The last time the average for single family attached units was this low was in February 2001.
The average for single family attached units was $202,135 in December which is unchanged form December 2008, but is $82k lower than the all time high in 2007.
The average price for all single family units in 2009 was $190,682, which was 14% below 2008 numbers and $64k lower that the all time high reached in 2007. The last time we saw average sales prices this low was in 1999.
For the year the detached units were down 1.8% and attached units were down 14.9%.
The extension of the Tax Rebate and the government keeping rates artificially low are the bright spots in the market. Hopefully our employment numbers will improve.
Van Purser is a licensed real estate broker in Georgia. Since1981 he has successfully purchased and renovated over 400 homes. His expertise is in the area of foreclosures, rehabs and fixer uppers. Additionally, he has represented hundreds of clients over the years as a broker with Metro Brokers, RE/Max and now with his own firm. He and his wife, Jeanne, who is also a broker, have been married since 1977. For follow up on this article you may email Van at VanPurser@VanPurser.com
Van Purser and his wife Jeanne are a licensed Real Estate Brokers in Georgia. Since1984 they successfully purchased and renovated over 400 homes. Their expertise is in representing Buyers or Sellers as an advocate; which means always ensuring their best interest. Additionally, they represented hundreds of clients over the years as an Associate Broker with Metro Brokers, RE/Max and now with his own firm. He and his wife, Jeanne, have been married since 1977. Van or Jeanne can be reached at 770-623-3313, or by email at email@example.com or firstname.lastname@example.org.