Homes in Zip Code 30004 - Sales Down, Prices Up, but are They Really?
I suppose it depends on how you spin the statistics and I really don't intend on doing that. The general statistics don't really show a decline in prices and that just doesn't seem to feel right so I set out to separate the market into more manageable segments to see if some segments are performing better than others thereby skewing the total statistics. My hypothesis was that the resale market below $750,000 (this is anywhere bnetween 80% and 90% of the market) was doing something worse than the market as a whole. In other words, one portion of the market might be making the total market appear as a much better market than what most sellers and agents are actually seeing.
As I start this post, let me first explain what I did. My goal was to separate out and use the majority of the market - this is the segment that I am concerned about because it is the part that will be most meaningful to the majority of people and can help to shed some realistic light on what you need to do with your price if you really want to sell your house. So, I eliminated all homes that sold above $750,000. The chart below shows how little of the market it represents, how it performs and should help to indicate why it is not giving a true representation of homes for sale in zip code 30004.