According to the National Association of Realtors® (NAR), prices fell slightly in the second quarter of 2011. Lawrence Yun, NAR chief economist, believes home prices have been moderating. "Median home prices have been moving up and down in a relatively narrow range in many markets, which shows a stabilization trend," he said.
Affordability remains high. The national median price, which is currently $171,900, is down slightly (2.8 percent) from the second quarter of 2010. In addition, interest rates are still fantastic, at 4.51% for a 30 year fixed, and 3.69% for a 15 year.
In a nutshell, if you are looking to buy a new home, you may want to take advantage of these favorable market conditions. On the other hand, if you are planning to sell your home, holding off for the time being is probably your best bet, if possible.
Affordability remains high. The national median price, which is currently $171,900, is down slightly (2.8 percent) from the second quarter of 2010. In addition, interest rates are still fantastic, at 4.51% for a 30 year fixed, and 3.69% for a 15 year.
In a nutshell, if you are looking to buy a new home, you may want to take advantage of these favorable market conditions. On the other hand, if you are planning to sell your home, holding off for the time being is probably your best bet, if possible.
| Housing Inventory Snapshot | |||
| Average List Price | Median List Price | ||
| Cherokee County, GA | |||
| Single Family under $500K | $214,632 | $194,400 | |
| Single Family over $500K | $915,245 | $679,000 | |
| Condo/Townhome under $250K | $132,447 | $132,697 | |
| Condo/Townhome over $250K | $299,816 | $289,900 | |
| Cobb County, GA | |||
| Single Family under $500K | $206,979 | $184,900 | |
| Single Family over $500K | $911,455 | $700,000 | |
| Condo/Townhome under $300K | $143,386 | $137,000 | |
| Condo/Townhome over $300K | $533,877 | $403,544 | |
| Dawson County, GA | |||
| Single Family under $500K | $269,155 | $264,000 | |
| Single Family over $500K | $786,096 | $650,000 | |
| Condo/Townhome under $200K | N/A** | N/A** | |
| Condo/Townhome over $200K | N/A** | N/A** | |
| Dekalb County, GA | |||
| Single Family under $500K | $187,014 | $159,900 | |
| Single Family over $500K | $787,598 | $650,000 | |
| Condo/Townhome under $300K | $133,410 | $125,000 | |
| Condo/Townhome over $300K | $461,104 | $365,000 | |
| Forsyth County, GA | |||
| Single Family under $500K | $261,720 | $249,900 | |
| Single Family over $500K | $814,000 | $684,500 | |
| Condo/Townhome under $250K | $163,341 | $159,900 | |
| Condo/Townhome over $250K | $319,527 | $325,000 | |
| Fulton County, GA | |||
| Single Family under $600K | $249,718 | $230,000 | |
| Single Family over $600K | $1,405,260 | $954,000 | |
| Condo/Townhome under $300K | $152,767 | $149,900 | |
| Condo/Townhome over $300K | $646,357 | $420,000 | |
| Gwinnett County, GA | |||
| Single Family under $350K | $160,224 | $149,900 | |
| Single Family over $350K | $686,952 | $495,000 | |
| Condo/Townhome under $200K | $102,066 | $99,500 | |
| Condo/Townhome over $200K | $260,637 | $249,900 | |
| Hall County, GA | |||
| Single Family under $450K | $193,616 | $174,900 | |
| Single Family over $450K | $1,053,236 | $663,600 | |
| Condo/Townhome under $300K | $143,649 | $129,900 | |
| Condo/Townhome over $300K | N/A** | N/A** | |
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