The number of homes sold increased for all of Metro Atlanta in October but the significant jump in homes sold in Forsyth County show strong signs that a recovery is on the way and Forsyth County Real Estate will lead that recovery for our area.
Metro Atlanta Data
The October 2009 data is in for metro Atlanta and home sales shot up nearly 15% over October 2008. Condos and Townhomes were up more than 24% over Oct 08 which is the highest year-over-year increase since early 2006. The average sales price for single family was $201,038 or 6.9% less than October 2008. However, the average sales price for November 2008 was $193,702. If we exceed that number for November 2009 (and I think we will) then that will be the first year-over-year increase in average sales price in almost 2 years.
Forsyth County Data
The number of single family homes sold in Forsyth County increased as well but with a far greater leap - 39% increase over October 2008. Take a look at the chart below:
| Forsyth County Market Data - Single Family Homes | |||
| Year-to-Year change: Oct 08 vs Oct 09 | |||
| 2008 | 2009 | Change | |
| Units Sold | 133 | 185 | 39% |
| Avg. Sales Price | $276,363 | $260,645 | -5.70% |
| Avg. Days on Market | 149 | 145 | -2.70% |
As you can see, the average sales price is down slightly from last year and the average days on market has improved slightly.
Moving Forward
We will continue to see the numbers move in the right direction, with increased signs of new construction in spots throughout the county. The expanded and extended tax credit will aid in this and help continue to reduce inventory levels throughout next year.
