City of AtlantaThe center of the South's commercial and financial industry, Atlanta, Georgia, in recent years had seen average home prices rising with no end in sight. However, of course, the end was in sight and it came with the onset of the U.S. financial crisis that triggered the bursting in the nation's housing bubble.

Prices have been falling over the year and seem to be near bottoming out, but current figures illustrate that that real estate in Atlanta is not quite out of the bind yet. Early December figures showed the median listing price at $193,900, down 2.6% from November and down 5.3% from last year.

During the third quarter, homes for sale in Atlanta were seen to be spending more time on the market in all but one category: homes for sale under $200,000. The median number of days on the market overall was 149, up by 19 days from figures from the third quarter of last year.

The median sales price has continued to see declines as well. In the third quarter it was $176,00, down from $190,000 in 2008 and $225,000 in 2007, though up slightly from the second quarter's figure of $168,000. Year-to-date, the median sales price for Atlanta real estate is $167,000, down from 2008's year-to-date figure of $200,000. Sales volume has been up, at 9,132 in the third quarter, up from just 9,000 in the second quarter and less than 6,500 in the first quarter.

Reblog this post [with Zemanta]