Alpharetta Local Real Estate There was a recent AJC article out that discussed how poorly the housing market is doing in metro Atlanta. Comparing median sales prices in 2010 to 2009 there were many zip codes that saw price declines. The article reported that on average, median prices for the metro area dropped 4.5% for this period.

Some of the worst zip codes saw declines as high at 17%, however in-town zips witnessed price increases as a result of commuters looking to be closer to work. As you might imagine, South Fulton, Clayton and Dekalb have been hit the hardest, with median prices down around $20,000 to $30,000.

Much like national stats, metro area stats are important for the state and city policy makers to understand how the economy is faring. Also, reports like this go a long way in affecting consumer confidence. However, if you’re a home seller, metro area stats are almost as meaningless as national stats. You need to know what the climate is in your city, zip, school district and neighborhood.

For more current numbers I pulled home sales in 30004 for Jan 1st thru May 31st of 2011 and compared them to the same period for 2010. Like the AJC article, I used median sale price which would take into account any outliers like very high or low sales prices. Remember, this period for 2010 had the effects of a tax credit which spurred additional sales. The median sales price for 2011 in zip code 30004 went up nearly 14% over 2010.

I’m not disputing that the housing markets nationally and in metro Atlanta are depressed and still moving in a negative direction. What I do want to point out is that the market bottom for our area (30004) is behind us. We aren’t too far up off that bottom, but trending in the right direction. Find out what the stats are in your local area and take that information into context when reading metro and/or national stats.