Grenade Lobbed at the Metro Real Estate Market ... Again.

In case you missed it on Sunday, the Atlanta Journal-Constitution presented part one of a two-part story on metro Atlanta Home values. 

Oh, AJC.   Just once could you write an upbeat story on the good things that are going on in some of the local real estate markets?  Perhaps a story on neighborhoods that are experiencing strong buyer demand?  If you'd like to call me, I'd be happy to talk to you about the trends that I am seeing in the City of Decatur and Intown markets.  For instance, trends like: 

• Builders pushing the price limits on their new construction homes.
• New construction buyers paying full price and/or and getting into bidding wars on vacant lots & homes not yet built.
• Renovation projects that go under contract before they are complete, or before they hit the FMLS database (I currently have three homes that fit this scenario).  
• Open House events that draw between 12 - 18 visitors in two hours.Homes under contract within 30 days of initially listing.

I know, I know, these trends simply represent anecdotal evidence of a strong Decatur/Intown real estate market.   But this anecdotal evidence can be backed up with statistical evidence as well.  For instance:

• The Decatur median price in the first 5 months of 2011 is almost exactly what it was in 2010 - holding steady at $350,000 .  (The Decatur median price number has not deviated much in the past four years, hovering around $350,000 - $353,000)
• The Decatur average price in the first 5 months of 2011 was down - just ever so slightly - to $365,078 (down 0.77%).
• Transaction volume (the number of homes sold) is also holding steady, and is down only slightly - with 89 homes sold in 2011, compared to 90 homes sold in the first five months of 2010.  A net change of -1.1%

'Holding steady' in today's market is a sign of strength - especially considering that in 2011, the real estate market is not benefiting from the bump that 2010 received with the Federal Housing Tax Credit stimulus.  

All markets are different, and when large market media outlets (and national media outlets) start painting broad strokes talking about nation trends, remember this:   You don't buy a national trend.  You buy a house, in a neighborhood, on a street.  Real estate has never been more local - you could say it is hyper-local... and you need to be aware of what is going on in your hyper-local market.  If you are thinking of buying or selling a home, contact a professional who knows your area.

I can't wait to read part two of the story in Sunday's AJC.  Again, I'm guessing it is too much to hope it will highlight some of the 'good news' stories about the real estate market!