Ouch!

Everything was moving along nicely until September 06.  Unit sales dropped below the Sept 05 levels and started the beginning of a rocky condo market.   Since Sept 06, only in Jan and Feb 07 did units sold post gains over 06 periods.  March through July showed continuing decrease unit sales figures.  In August the Condo market posted less than 800 units sold versus almost 1,200 in August of 06.  This is a 400 unit decreas of almost a 33% in units sold.

 Ouch!

Historically Units of condo’s sold had generally been increasing year to year until 06.  The recent sales activity is just below the unit sales levels in 2004.

 Some good news.

IF your unit sold, you probably averaged 190,000 to $200,000.  Average sales price of condos has been flat in this range throughout most of 06 and 07.

 I don’t have stats on the average “asking price” of condo’s in Atlanta, but there sure are a lot of building cranes in Buckhead with expensive condo’s being built.  I hope the get absorbed.