North Fulton County, GA Home Sales Report – Detached and Attached Single Family Homes – October, 2011 as Compared to October, 2010.
The numbers are in for home sales in North Fulton County for October, 2011. The numbers are quite impressive overall.
For single family detached homes, total sales volume increased from $53,862,275 in October, 2010, to $74,682,076 in October, 2011. This represents a 38.65% increase. *
For single family attached homes (condos and townhouses), the total sales volume increased from $6,415,500 in October, 2010, to $9,385,975 in October, 2011. This represents a 43.3% increase.
Some more good news is that the average sales price for single family detached homes increased from $358,916 in October, 2010, to $364,303 in October, 2011. This is a 1.5% increase.
Average sales price for single family attached homes decreased from $168,828 in October, 2010, to $161,827 in October, 2011 – a 4.2% decrease.
As far as single family homes increasing 1.5% in average sales price, that does not indicate an increase in home prices. This merely indicates that the average price buyers paid for all homes combined in October, 2011, was 1.5% higher than in October, 2010. This is also reflected in a news article posted by AGBeat – Home buyers paid more but got better deals and bigger homes in 2011 – report. “The news that home buyers paid more this year for homes follows the trend of buyer demographics as more buyers this year were repeat buyers, more stable, mature, older buyers with higher incomes, therefore, they typically purchased homes that were slightly more expensive in a year where first time buyers dropped from half of all buyers to a third.”
Also, total average days on market for single family detached homes in North Fulton county decreased from 169 days in October, 2010, to 142 days in October, 2011. Single family attached also decreased – from 191 days in October, 2010 to 126 days in October, 2011.
*Information deemed reliable but not guaranteed.
For more information about the Atlanta area real estate market, please email me at firstname.lastname@example.org or call me at 404.918.2500.
- October Existing-Home Sales Rise, Unsold Inventory Continues to Decline
- Home buyers paid more but got better deals and bigger homes in 2011 – report