August numbers leave very little to be excited about when it comes to real estate. Closings have dropped, average sales prices have once again gone down and fewer home owners are putting their homes on the market because of the dismal prospects of selling at a reasonable price. I AM JUST THE MESSENGER. PLEASE DON’T SHOOT ME.
There were 3,945 closings for all single family units in August which was a decrease of 17.9% from August 2009. This is down from 4,806 in August 2009. There have been 34,092 closing through August of this year. This is a 1.3% year to date decline over the same January – August period of 2009.
There were 3,372 closings in August for all single family detached homes, which was a decrease of 17.1% compared to August 2009. This is the 39th year to year monthly decline out the last 49 monthly reporting periods. Of the 10 that experienced increases 7 of those months can be attributed to the now expired Tax Rebate Program.
There were a total of 573 closings for all single family attached units in August, which is a decline of 22.5% from August 2009. This is the second consecutive month to month decrease after 11 months of year to year monthly increases.
Average Sale Prices
The average price for single family detached units was $206,073 in August which is a 1.9% increase over August 2009. This is however a decrease of 8% from the previous month to month of July.
The average sales price for all single family attached units in August was $137,543 which is a decline of 6.2% from August of 2009. This is nearly 30% below August 2007 averages of $195,738.
There remains little to be optimistic about in housing, unless you are a buyer or are refinancing… and have equity to do so.
Realtor.com August Home Sales
Pending Home Sales
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.