6:49 am May 25, 2010, by Henry Unger
Both the residential and commercial real estate markets appear to be improving.
On the commercial front, AJC reporter Gertha Coffee writes that heavily discounted prices and more available financing have created a flurry of activity for metro Atlanta commercial real estate brokers.
Industry experts said they expect gradual improvement to continue this year because sellers are becoming more reasonable about prices and lenders are back in the market, Coffee reports.
Still, commercial property sales in metro Atlanta fell 66 percent in the 12 months ended March 31 vs. the same period a year earlier, according to LoopNet, an online real estate listing service.
On the residential side, AJC reporter Michelle Shaw reports that increased home sales led to higher prices.
The median sales price for existing single-family homes around metro Atlanta rose 7 percent in April from the same month a year earlier, according to a National Association of Realtors report released Monday.
The increase, from $112,500 to $120,800, breaks a string of year-over-year decreases during the first three months of the year, Shaw reports.
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