THE AJC'S 2008 HOME SALES REPORT
Pockets of town hold their ownGas prices are up. So are median home prices in those areas of metro Atlanta where people don't have to fill up to reach jobs, restaurants, shops and other conveniences.
The ZIP codes that have been holding steady in home prices and numbers of sales last year, according to the AJC's 2008 Home Sales Report, also are sought-after spots intown and in the suburbs that have workplaces nearby and an appealing lifestyle.
The Home Sales Report certainly shows areas of metro Atlanta battered by the tough housing market of 2007/2008, but it also reveals a number of spots where the intersection of job growth and attractive housing and amenities has kept prices steady and sales up. The report was compiled by SmartNumbers, which compiles and analyzes real estate data.
"There are pockets of town where there is a good story to tell," said Rhonda Haran, broker of Jenny Pruitt & Associates' Johns Creek office.
Here's a detailed look at how various areas of metro Atlanta stacked up.
GOOD NEWS FOR BUYERS
You can still buy a house for less than $100,000. Here are the following ZIP codes where the median resale price was below $100,000 in 2007:
County ....ZIP ......Median price
Clayton....30297 ....$64,000
Fulton ....30314 ....$68,565
Fulton ....30354 ....$77,050
Spalding ..30223 ....$85,500
Fulton ....30310 ....$87,000
Fulton ....30315 ....$88,500
Clayton....30349 ....$92,337
Clayton....30274 ....$92,700
Clayton....30260 ....$93,500
DeKalb ....30032 ....$95,000
Clayton....30238 ....$99,900
Source: SmartNumbers
WHAT AN AGENT SAYS: Buyers are finding the best deals in foreclosures, said Van Johnson, president of the Georgia Association of Realtors. "They look better, are better priced and a lot of times have financing," said Johnson, broker of Re/Max Executives. "It's extremely difficult for builders or homeowners trying to sell to compete with bank-owned foreclosures."
GOOD NEWS FOR SELLERS
Here are the top ZIPs that saw an increase in total median home sale prices from 2003 to 2007.
County....ZIP....Med. price 2007..Med. price 2003..Growth
Gwinnett..30517..$472,723 ........$159,350 ........196.7%
Coweta....30276..$225,000 ........$129,000 ........74.4%
Hall......30542..$236,650 ........$153,000 ........54.7%
Walton....30656..$210,900 ........$140,000 ........50.6%
Fulton....30327..$716,000 ........$475,691 ........50.5%
Fayette ..30290..$379,292 ........$255,400 ........48.5%
Fulton....30354..$132,500 ........$91,000..........45.6%
Gwinnett..30017..$249,900 ........$174,900 ........42.9%
Henry ....30252..$217,670 ........$152,400 ........42.8%
Gwinnett..30084..$217,000 ........$151,950 ........42.8%
Henry ....30252..$217,670 ........$152,400 ........42.8%
Source: SmartNumbers
WHAT AN AGENT SAYS: "You better have your home in as good of condition as you possibly can. Because it being a buyer's market, people can be real picky and choosy, and they want it to look great," said Charles Stroupe with Dorsey Alston, Realtors. "Things are selling, but they have to be priced right and look right."
30097
Location: The Gwinnett portion of the ZIP in Duluth and Johns Creek. Prominent subdivisions including Sugarloaf Country Club and St. Marlo Country Club.
Median home price: $330,007 in 2007, up 17.9 percent from 2006.
Who's buying: Current residents taking advantage of market conditions to move up, and others moving to the area for jobs. About 20 percent of the business in Johns Creek broker Rhonda Haran's office last year was a result of corporate relocations, she said, citing Gwinnett County's 1,200 high-tech companies and 400-plus international companies.
Area appeal: The ZIP code attracts people looking for "not just a home, but a lifestyle," Haran said. "They're able to get a gated community that offers not only golf and tennis, but all kinds of activities for families. There are good buys, so someone who might not have been able to buy there a couple of years ago is finding some opportunities now to get in those communities at a lower price point." She adds that the area is a site for commercial and new businesses, with facilities such as Technology Park/Atlanta in Johns Creek. "If someone can live and work within a few miles of each other, it's a good thing."
Sought-after feature: Outdoor living spaces. "Those aren't only in the luxury homes. We've seen $200,000-$300,000 homes with a nice stacked stone fireplace, and obviously, a pool or a small water feature."
30305/30327
Location: Buckhead
Median home price: 30305's median price was $328,400 in 2007, up 31.4 percent since 2006. Another Buckhead ZIP code, 30327, has the highest total median price for 2007 in metro Atlanta: $716,000. It increased 12 percent from 2006-2007 and 51 percent from 2003-2007.
Who's buying: Fluffy Tambke, an agent with Harry Norman, Realtors, is seeing a huge increase in young families. Homes under $500,000 are selling best, and she's even recently seen multiple offers within the first week or 10 days on the market.
Area appeal: "They all want to live-work conveniently," said Tambke, who also lives and works in Buckhead. She says longer commutes and rising gas prices are key factors.
Sought-after feature: Homes with updates, which may not always be found. "Everyone expects the bathrooms and the kitchens to be renovated."
30517
Location: Gwinnett portion of the ZIP in Braselton. Prominent subdivisions include Chateau Elan.
Median home price: $472,723, up 117.3 percent over 2006, the largest increase in metro Atlanta.
Who's buying: Gwinnett County residents seeking to move farther out. Phil Mulherin, vice president of real estate, says that represents 95 percent of buyers at Chateau Elan. The typical buyer is moving from the ranch home they've lived in for 20 years that's paid off, and they're bringing that equity into their new home purchase. The average price in Chateau Elan last year was $775,000, compared with about $800,000 in 2006. There were 75 sales last year, compared with about 100 in 2006.
Harry Gentry, who is helping open Independence Bank of Georgia this fall outside the Chateau Elan gates, moved to a five-bedroom, 5 1/2-bath home in its Legends community last summer. Gentry originally looked at the area several years ago, before moving to Duluth, but thought it was too far away from work and activities that he, wife Kathy and children Darby, 15, and Jared, 13, enjoyed. "It is starting to grow, which is a plus. You don't have to drive that far to get to the grocery store and the restaurants that are there," he said. "You have more small business owners and professionals up there."
Area appeal: Jobs. Dana Bauguss, managing broker of Re/Max Greater Atlanta, identifies the ZIP code as being in a corridor of growth, from Gwinnett to Hall counties. Hall, for example, saw a 15.2 percent increase in jobs from 2000-2006 (totaling 73,272 jobs), and Barrow County experienced a 44.5 percent increase in jobs from 2000-2006 (totaling 16,117 jobs), according to data from the Atlanta Regional Commission. There have been so many communities built in that area in the last five years that prices have appreciated over the 2003-2007 time frame, said Bauguss, a vice president of the Georgia Association of Realtors. "Prior to that, there weren't as many homes there," she said. Commercial real estate growth is seen in everything from shopping centers to plans for Northeast Georgia Health System's new hospital in Braselton.
Sought-after feature: Easy living. Dana Smith, who moved from Duluth into the Creekside Villages at Chateau Elan last year, said her family was attracted by the maintenance-free smaller lots and the community's setting. "We love driving into that main street —- that tree-lined street. It's less hustle and bustle here," said Smith, who is also involved in the women's club. She said new neighbors include a physician who was attracted by the plans for the hospital. "With all the growth that's coming and the hospital, that is [going to] be good on our property values," said Smith, who has two daughters, 17-year-old Jennifer and 14-year-old Katharine. It's also convenient to husband Randy's job in Duluth, via I-85.
30319
Location: Fulton portion
Median home price: $575,000 in 2007, up 111.4 percent since 2006
Who's buying: People from metro Atlanta and out of state. New buyers include Scott and Julie Wallace (along with 10-month-old Mia) who moved back to Atlanta after living in Chicago. He wanted a home with a yard near his office in Buckhead, which is a 10-minute commute. They got their home for about $20,000 off the asking price. "It seemed like the prices had dipped quite a bit [from when they initially looked in September 2007] and there were larger and nicer homes in better areas," Scott said.
Area appeal: Convenience, said Charles Stroupe with Dorsey Alston, Realtors. "With Atlanta at or near 5 million, traffic is certainly a factor in people's decision of where they're going to live in relation to where they're going to work." It's inside I-285, with access to a MARTA station, near Phipps Plaza, Lenox Square, Buckhead office towers, hospitals and private schools, such as the Marist School. Stroupe also points out new developments such as the Sembler Co.'s Town: Brookhaven project that will be adding restaurants and shops. "I've heard it said that Brookhaven is going to become more and more like Virginia-Highland, where it can be a walking-strolling community that has condos and lots of fine dining and shops and things to make it a village," Stroupe said.
Sought-after feature: Homes with land. Brookhaven has a lot of neighborhoods where older homes have been torn down and replaced with larger homes and lots a quarter to a third of an acre, said Kelly Marsh, an agent with Keller Williams Realty-First Atlanta. That's compared with other places intown where they squeeze a home onto a small lot, with no yard. The Wallaces' agent, Jeff Sowell with Re/Max Metro Atlanta, also notes he's seen an increased interest in EarthCraft-certified homes. "They're at least asking more questions about energy efficiency than they used to."
LOOKING BACK . . . AND FORWARD
A county-by-county look at job growth and home sales.
CLAYTON
Every ZIP code saw a drop in the median resale price from 2006 to 2007. College Park (30349) was hit the hardest, with a 21 percent drop in the median resale price from 2006 to 2007.
The cheapest resales in the area can be found in 30297 (Forest Park), where the median price for resale was $64,000 last year. Still, the median price for new homes in that ZIP was at its highest at $186,599. And only 43 percent of the ZIPs saw a decline in the median price of new homes from 2006 to 2007.
Sales have slowed, with the number of total units sold in 2007 down 15 percent from 2006 and down 11 percent from 2003.
Largest decline in price: 30260 (Morrow) saw the biggest drop —- 7 percent —- from 2006-2007. From 2003 to 2007, the median price declined by 17 percent, putting the 2007 median at $153,499 for new homes.
Where the jobs are: The county had 127,304 jobs in 2006, down 6.3 percent from 2000, according to data from the Atlanta Regional Commission.
COBB
All but two ZIP codes in the county saw a drop in units sold from 2006 to 2007. Three-fourths of the ZIP codes posted 2007 sales lower than 2003 numbers.
Resale prices held steady, however. Fewer than half of Cobb's ZIPs saw a decrease in resale prices, with 30106 seeing the biggest drop, 6 percent, from 2006 to 2007.
Largest increase in price: 30339 (Smyrna and Vinings) saw a 57 percent rise in median price from 2006-2007. It also had a 22 percent increase in home sales from 2006-2007, and the number of units sold has increased threefold since 2003. The numbers are mainly driven by new homes, with 406 selling in 2007, compared with 159 resales.
Where the jobs are: The county had 321,111 jobs in 2006, up 2.3 percent from 2000, according to data from the Atlanta Regional Commission. By 2030, it is expected to add 135,000 jobs.
DEKALB
DeKalb saw the lowest number of sales in at least five years. Last year, 11,700 units sold, down 16 percent from 2006 and 1 percent from 2003.
But the majority of the county's ZIPs saw a rise in the median price for new homes from 2006 to 2007. Lithonia fared well, with the 30038 median price increasing 119 percent from 2003 to 2007, and 2 percent from 2006 to 2007. Also in Lithonia, 30058 saw a 34 percent median price rise for new homes from 2003-2007, 18 percent over 2006.
Existing homes didn't do so well. Almost two-thirds of DeKalb's cities saw a drop in the median resale price from 2006-2007. The largest drop was 30021 (Clarkston), which saw a 23 percent decline from 2006 to 2007 (median price of $118,048).
ZIP code 30306 (Druid Hills) fared best with a 2007 median resale price of $448,025, up 13 percent from the previous year.
Largest increase in price: 30294 (Ellenwood) saw a 39 percent jump in the median price for new homes, to $258,408, from 2006-2007. It also was up 46 percent from 2003-2007. The ZIP code with the top median price in DeKalb for new homes is 30316 (East Atlanta), at $305,300 in 2007, up $10,000 over 2006.
Where the jobs are: DeKalb had 303,829 jobs in 2006, down 12.4 percent from 2000, according to most recent data from the Atlanta Regional Commission. By 2030, it is expected to add 84,000 jobs.
FULTON
The total number of units sold in 2007 was down 21 percent since 2006, but 21 percent higher than the total for 2003.
New units sold last year took a 34 percent dive from 2006. Resales fared a bit better, with a 12 percent drop in the number sold from 2006 to 2007. Over the past five years, the total number of resales was up 21 percent.
More than one-third of ZIP codes in the county saw a drop in median price of resales from 2007 to 2006. Seven Fulton ZIP codes have 2007 median prices for resales below the 2003 median.
Largest decline in price: 30350, in Sandy Springs, where the 2007 median resale price was 37 percent lower than in 2003.
Where the jobs are: The county had 716,137 jobs in 2006, down 2 percent from 2000, according to most recent data from the Atlanta Regional Commission. By 2030, it is expected to add the most jobs —- 316,000—- in the 20-county metro area.
GWINNETT
Only 37 percent of the county's ZIPs saw a dip in median resale price since 2006. All but one is above the median price in 2003.
More than three-fourths of the ZIPS in 2007 had median resale prices below $200,000.
Median prices for new homes held their own. The majority of ZIPs saw a rise from 2006 to 2007, with 30096 (Duluth) jumping 64 percent. ZIP 30045 (Lawrenceville) had a 14 percent decline in the median new price from 2006-2007.
Sales have definitely slowed. Last year, the county sold 30 percent fewer units than 2006, 20 percent fewer than 2003. New home sales have dropped 39 percent since 2006. Resales fell 24 percent.
Largest decline in price: 30093 (Norcross) was the only ZIP in the county where the median price for resales last year ($120,750) was below 2006 and 2003.
Where the jobs are: The county had 322,628 jobs in 2006, up 10.5 percent from 2000, according to data from the Atlanta Regional Commission. By 2030, it is expected to add 224,000 jobs.
HOW THEY'RE SELLING
THE RANKINGS
Information was compiled from sales deeds filed at county courthouses. The data was obtained from SmartNumbers, a firm that analyzes home sales data and spots trends in the real estate industry. Condominium and townhome sales are included, but mortgage assumptions, refinances, foreclosures, HUD sales and lot sales are not. ZIP codes reflect those used by the Postal Service. Some ZIPS that appear on the map cross county lines into counties not shown.
ZIP codes ranked by number of homes sold
ZIP....2007 units sold..Percentage change
30122..........1..........-50.0%
30336..........1..........-97.3%
30234..........4............0.0%
30157.........15 ..........15.4%
30072.........17 .........-15.0%
30534.........19 .........-53.7%
30141.........36 .........-50.7%
30184.........36 ...........5.9%
30620.........47..........-25.4%
30303.........50..........-26.5%
30215.........58..........-43.7%
30233.........58...........18.4%
30079.........59..........-33.0%
30346.........63..........-75.5%
30002.........96..........-34.2%
30021.........99..........-21.4%
30517........102 .........-37.0%
30548........109 .........-16.2%
30183........114 ..........-8.8%
30288........119 .........-51.8%
30337........125 ..........14.7%
30011........135 .........-65.1%
30313........136 .........-28.8%
30268........169 ..........-7.1%
30360........183 .........-11.2%
30363........203 .........-47.7%
30326........235 .........-58.6%
30506........239 .........-29.1%
30329........240 .........-15.5%
30354........241 ...........9.0%
30107........261 .........-14.1%
30035........264 .........-14.6%
30340........278 .........-14.5%
30168........284 .........-14.7%
30345........284 ..........-9.8%
30297........303 ..........-3.5%
30311........326 .........-24.5%
30106........332 .........-23.9%
30273........359 ...........0.8%
30260........378 ..........-9.1%
30327........391 .........-21.5%
30342........401 .........-33.1%
30341........402 .........-23.6%
30314........416 ...........8.1%
30088........418 .........-22.2%
30017........437 .........-30.6%
30092........448 .........-18.7%
30060........449 .........-10.2%
30344........454 .........-27.2%
30317........464 ..........-1.1%
30274........478 .........-19.1%
30071........480 .........-11.4%
30093........487 .........-28.6%
30068........497 .........-17.3%
30338........500 ..........-7.1%
30296........503 .........-29.1%
30350........506 .........-26.3%
30087........512 .........-25.8%
30008........524 ..........-3.3%
30307........534 ..........-4.1%
30078........539 .........-25.8%
30291........547 .........-32.5%
30306........549 ..........-9.9%
30248........554 .........-37.0%
30033........561 .........-11.1%
30339........570 ..........20.5%
30034........584 .........-30.7%
30324........590 ..........-4.4%
30312........591 ...........1.9%
30082........598 .........-16.7%
30067........619 .........-15.6%
30005........624 .........-13.3%
30030........625 .........-22.0%
30189........627 .........-29.0%
30328........630 .........-19.5%
30308........654 ..........13.5%
30315........656 .........-20.3%
30076........661 .........-22.8%
30236........668 .........-28.9%
30152........684 .........-39.0%
30310........691 .........-21.5%
30084........698 .........-20.1%
30083........702 ..........-1.3%
30102........705 .........-19.4%
30038........710 .........-20.8%
30238........722 .........-18.3%
30052........739 .........-36.4%
30032........779 ...........1.2%
30047........786 .........-33.9%
30305........808 .........-22.5%
30096........817 .........-32.3%
30144........818 .........-28.0%
30064........831 .........-18.2%
30039........860 .........-39.5%
30309........862 .........-40.6%
30126........875 .........-30.7%
30097........879 .........-32.8%
30062........881 .........-26.3%
30066........898 .........-26.6%
30316........900 .........-13.6%
30281........903 .........-33.9%
30019........910 .........-36.9%
30252........918 .........-34.1%
30115........922 .........-20.7%
30294........933 .........-15.6%
30101........944 .........-26.3%
30058........947 .........-24.1%
30519........957 .........-25.6%
30518........974 .........-10.2%
30075.......1005...........-7.5%
30318.......1008..........-17.9%
30253.......1025..........-41.6%
30127.......1035..........-19.6%
30213.......1102..........-20.0%
30228.......1129..........-22.5%
30080.......1140............2.3%
30022.......1205..........-15.0%
30319.......1212...........23.3%
30331.......1295..........-26.2%
30114.......1313..........-22.1%
30188.......1347..........-27.7%
30041.......1402..........-15.1%
30043.......1419..........-30.3%
30044.......1476..........-27.9%
30045.......1510..........-27.9%
30004.......1543..........-16.4%
30024.......1641..........-25.0%
30349.......1773..........-19.1%
30040.......2549..........-14.5%
Analysts Megan Clarke and Richard Bronosky contributed to this report.
Staff illustration by WALTER CUMMING Three arrows — representing DEKALB and FULTON counties; CHEROKEE, CLAYTON and COBB counties; GWINNETT and HENRY counties — pierce a target.
Three arrows respresent ZIP codes 30097; 30517; and 30319.
Color-coded maps of Cherokee, Clayton, Cobb, DeKalb, Forsyth, Fulton, Gwinnett and Henry counties divided by ZIP code and shaded to indicate the changes in sales volume from 2006 to 2007.
Changes in sales volume from 2006 to 2007
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