September Statistics Show Stronger Real Estate Sales

North Atlanta Homes

Real Estate sales were up considerably in September

Statistics released on Friday show the highest number of real estate sales in two years, positive news indeed in an industry that has been in a slump for a couple of years now.  As expected recent reports show the combination of low interest rates, dropping home values and the First Time Home Buyer Tax Credit are all seen as the biggest boosts toward real estate nationwide.  The National Association of Realtors (NAR) released data that displayed a 9.4% increase in home sales for September 2009, the best statistics since July of 2007.

The positive signs in real estate are increasing faith in the economy as many believe that we are slowly climbing our way out of the recession.  The hope is that the First Time Home Buyer Tax Credit will be extended and possibly even expanded.  31% of homes sold in September were first time home buyers, and 29% of the sales were distressed properties.  With home continuing to remain at the most affordable values in recent years the hope is that the upward, positive trend will continue.

Please feel free to call me, Jason White at The Jason White Team to discuss real estate in the Smoky Mountains. Click here for local listings in our area.  For more information on September’s real estate activity click here.

Sept 2008 vs. Sept 2009 Smoky Mountains Residential Real Estate Results

Comparing residential real estate numbers for our Smoky Mountains can be helpful for spotting trends in the market, and September’s results are now available. As a veteran real estate professional, I realize that a yearly month versus month comparison will not completely reveal market directions. However, they are good for loosely tracking the accuracy of our theories on residential real estate pricing and general movements.

In September of last year there were 1739 residences sold. This September of 2009 there were 1408 sold. This is 331 less than last year or a 19% decrease.

Quantity Of Homes Sold Last year’s September dollar volume sold was $346,617,330 compared to this September with $262,290,678. The difference is $84,326,652 less for 2009 or 24% lower.

Dollar Volume Sold The average residence sold in 2008 was $199,320 versus this year’s $186,286. This nets a 7% lower average in 2009 or $13,034. Average Sale PriceIn the category of active listings we see September 2009 winning out with 8,973,  while active listings for September 2008 were 8,254. September 2009 has 719 more active listings or a 9% increase over the prior year.Quantity Of Active Homes

In distilling this data to sense a trend, I believe you need to exercise some caution. First, realize that the housing market is currently stimulated by government intervention as are other sectors of our country like automobiles, banking, etc. It may take some time for real market trends, without massive government stimulation to reveal themselves. This being said, guessing market timing in any investment is challenging at best. With any larger investment, like property, the investor needs to do their due dillegence.

This is currently a good time for either buying or selling real estate. As a seller you could get money out of your current real estate with the possibility that prices might decline further down the road and you might reinvest your funds into a better investment in the future. As a real estate buyer, the increased active listings give you an awesome selection to choose from. With the printing of paper money here in the U.S. for bailouts, combined with international moves toward a lower value in the dollar, nothing holds its value like hard assets. Good real estate is a hard asset that has shown its ability to hold value. If you are considering real estate as primary or secondary home or as an investment, be sure to contact The Jason White Team. We have the experience and knowledge to put you in the property of your dreams.


Here are a couple of My Lastest Listings:  



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