Average home prices in DeKalb County plummeted 27 percent last month, compared with December 2007, largely because of a growing number of foreclosures.
The average sales price for single family homes declined from
$208,671 in December 2007 to $151,935 last month, according to a report
by the DeKalb Association of Realtors.
DeKalb’s price decline is worse than the overall metro Atlanta drop
of about 13 percent last year. Home prices in the county were dragged
down by a rash of foreclosures in south DeKalb, said Tal Kramer, a real estate agent with ReMax Communities.
“It has one of the highest percentages of foreclosures going on,” Kramer said.
The part of DeKalb that saw the biggest drop in average price for
the entire year, almost 45 percent, was near the Scottdale area, in the
30079 zip code. Belvedere Park, the 30032 zip code near Avondale
Estates, had the second-biggest drop in value for the year, of almost
40 percent, said Kramer, who analyzed sales activity in all areas of
DeKalb.
AJC
I would not count on seeing a 27% reduction in your property taxes. The 30030 zip code had a 1.4% increase. Assessments don't go down as fast as they go up. And, as the previous post mentions, you'll get no homeowner's grant from the state next year.
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