In 2007, we all learned a hard lesson: the housing market can head south, sometimes fast.

The subprime mortgage crisis that has affected much of the country took hold last year in many parts of Atlanta, DeKalb and south Fulton counties, causing a dramatic drop in both the number of homes sold and median sale prices.

Among the hardest-hit areas: the 30310 ZIP code in southwest Atlanta and the 30021 ZIP code in Clarkston, which saw the median price of existing homes plummet by 23 percent last year, the largest drop in metro Atlanta.

A rising tide of foreclosures haunted many working-class neighborhoods, including much of south DeKalb County, causing home values to drop sharply.

But even affluent sections of the city were not immune from the downturn. The Midtown, Ansley Park and Brookwood Hills section of Atlanta, ZIP code 30309, saw the number of home sales fall a staggering 41 percent.

The news wasn't all bad. Buckhead posted a strong showing, with the median price of homes soaring by 31 percent last year. The sliver of north Atlanta covered by ZIP code 30319 saw housing prices more than double, to $575,000.

 TOP DECLINE IN SALES 
County (ZIP)..Total units '07....Change
Fulton...........235.............-58.63%
(30326)

Fulton...........862.............-40.55%
(30309)

DeKalb............77.............-36.36%
(30288)

TOP GROWTH IN SALES
County (ZIP)..Total units '07....Change
DeKalb........1,125...............25.42%
(30319)

Fulton
(30308).........654...............13.54%

Fulton
(30337).........123...............12.84%

TOP GROWTH IN PRICE
County (ZIP)...Median price.......Change
Fulton.........$575,000..........111.40%
(30319)

Fulton.........$328,400...........31.36%
(30305)

Fulton.........$132,500...........29.90%
(30354)

TOP DECLINE IN PRICE
County (ZIP)...Median price.......Change
Fulton...........$90,000.........-27.24%
(30310)

DeKalb..........$118,095.........-23.54%
(30021)

DeKalb..........$173,000.........-23.35%
(30288)
Source: SmartNumbers