Home sales continue slip in April



Despite some seasonal increase in inventory levels in North Atlanta, the number of sales for sin-gle-family detached homes is down over last year in both Forsyth County and North Fulton, with the exception of three zip codes on the north side of the city.

There were nearly 13 percent more homes on the market in Forsyth County and just over 11 per-cent more in North Fulton in April, compared to the same time last year.

A seasonal increase in inventory is normal in the spring and new construction is adding to that increase, but inventory still remains historically low.

Average sales prices in April (year-over-year) jumped just over 9 percent in Forsyth County and 2.5 percent in North Fulton, but the number of homes sold continued a downward trend, drop-ping 14 percent and 12.6 percent in Forsyth and North Fulton respectively.

So, despite the seasonal increase in inventory, buyers still are not materializing or choosing to purchase at the same rate as last year when inventory was lower and choices fewer.

Here is a breakdown of the same sales figures for April by zip code:

Zip Code Unit Sales Avg Sale Price

30004 -10.8% -11.8%

30005 -47.8% 4.5%

30009 -33.3% 6.9%

30022 2.8% 2.4%

30028 22.2% 7.1%

30040 -10.9% 7.8%

30041 -13.8% 11.7%

30075 -22.5% 5.1%

30076 10.3% 22.3%

The only locations that didn’t see a drop in the number of homes sold was 30022, 30028 and 30076. Also of note, 30004 was the only zip code that reflected a drop in average sales price.

This is attributed to a lower number of sales over $1 million.

BUS 05-28-14

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