HomeGain Releases 2nd Qtr Georgia Home Prices Survey Data

Posted by: Louis Cammarosano on May 23rd, 2009

Last week, HomeGain, the first web site to provide free online instant home valuationsreleased the national and regional results of our survey of 1150 former and current HomeGain members. We asked their opinions on home prices and of President Obama’s performance as President.  On this blog we published the national and regional 2nd Qtr results.  

This week we published the results of the  California home prices, Texas home prices, Florida home prices, New York home prices, New Jersey home prices, Illinois home prices and  Arizona home prices prices surveys.

Today we release the result of the Georgia home prices survey.

In the first quarter Georgia home values survey, Realtors expressed the belief that home buyers thought homes were over valued. In the current survey not much has changed with just 8% of Georgia home buyers believing that homes are fairly priced (vs.5% in the frst quater survey). According to Georgia Realtors, thirty-two percent of Georgia home buyers believe that home prices are over priced by 10-20%, the same percentage of home buyers that believed the same in the first quarter. (see question 3)

Georgia home sellers tempered their valuation expectations slightly in the second quarter with 39% believing that their homes were worth 10-20% more than their Realtors’ recommended listing prices vs. 45% who believed so in the first quarter. In the current survey only 8% of Georgia home owners believed that their homes were worth 21-30% more than their Realtors’ recommended listing prices vs. 16% who believed so in the first quarter. (see question 2)

Three months ago 42% of Georgia Realtors expected home values to decline in the next six months. In the current survey 27% of Georgia Realtors believe home prices will fall in the next six months. Twenty-seven percent of Geogia Realtors in the current survey expect home prices to increase in the next six month vs. 16% who believed so in the first quarter. (see question 6)

Fifty-eight percent of Georgia Realtors somewhat approve or strongly approve of Obama’s performance as President.

Set forth below is the Georgia home prices data with the national data in parenthesis:

1. On average, in the last year do you think your homeowner clients home values have:


Decreased: 76%/82% (84%/90%)

Increased: 6%/0% (3%/2%)

Stay the same: 18%/8% (12%/8%)

2. On average, what do your homeowner clients believe that their home is worth?


10-20% higher: 39%/45% (35%/45%)

10-20% less: 3%/16% (8%/10%)

1-9% higher: 34%/* (24%/*)

1-9% less: 0%/* (9%/*)

21-30% higher: 8%/16% (8%/14%)

21-30% less: 3%/* (3%/*)

At listing price you recommend: 10%/11% (10%/14%)

More than 30% higher: 3%/5% (2%/4%)

More than 30% less: 0%/* (2%/1%)

3. How do your home buyer clients feel that homes for sale are priced?


Fairly priced: 8%/5% (19%/18%)

Overpriced by 10-20%: 32%/32% (30%/32%)

Overpriced by 21%+: 3%/8% (4%/10%)

Overpriced by less than 10%: 42%/18% (29%/21%)

Underpriced by 10-20%: 6%/24% (8%/14%)

Underpriced by 21-30%: 3%/3% (1%/2%)

Underpriced by 31%+: 0%/8% (1%/2%)

Underpriced by less than 10%: 5%/0% (5%/5%)

4. What is the average difference in price between what sellers believe their home to be worth and the amount at which you eventually list the house?


Greater than 11-20%: 2% (7%)

Greater than 21%: 5% (3%)

Greater than 5-10%: 3% (10%)

Less than 11-20%: 32% (23%)

Less than 21-30%: 8% (5%)

Less than 5-10%: 45% (43%)

Little or no difference in price: 5% (8%)

5. What is the average difference in price between what the home is listed at and what the home sells for?


Greater than 11-20%: 2% (4%)

Greater than 21%: 3% (2%)

Greater than 5-10%: 2% (5%)

Less than 11-20%: 26% (27%)

Less than 21-30%: 6% (4%)

Less than 5-10%: 55% (53%)

Little or no difference in price: 6% (5%)

6. In the next six months, do you think the values of homes in your market will:


Decrease: 27%/42% (29%/53%)

Increase: 27%/16% (22%/11%)

Stay the same: 45%/42% (49%/36%)

7. What percent of homes in your area are foreclosures?


Less than 10%: 39%/26% (26%/37%)

10%-20%: 34%/42% (15%/26%)

21%-30%: 16%/16% (12%/16%)

31%-50%: 3%/13% (7%/15%)

51%-75%: 6%/3% (3%/5%)

75%: 2%/0% (3%/2%)

8. What is the average home price in your area?


$151K-$300K: 58%/74% (56%/59%)

$301K-$500K: 19%/20% (20%/21%)

$501K-$800K: 3%/0% (5%/6%)

$801K+: 5%/0% (3%/2%)

Less than $150K: 15%/6% (16%/11%)

9. In your opinion, what impact has the Obama Stimulus package had or will have on home values this year?


Decreased home prices: 8%/24% (8%/13%)

Increased home prices: 3%/5% (3%/4%)

No impact: 48%/37% (55%/45%)

Stabilized home prices: 40%/34% (34%/38%)

10. How do you think Barack Obama is performing in his role as President?


Somewhat approve – 27% (31%)

Somewhat disapprove – 13% (19%)

Strongly approve – 31% (26%)

Strongly disapprove – 29% (24%)

* Data not available

See National and Regional Survey Results

Try HomeGain’s Instant Home Prices Tool

Check Home Prices in Georgia cities:

Find U.S. homes for sale and search U.S. real estate

Join the Atlanta Real Estate discussion on HomeGain Nation

HomeGain real estate home values survey results are based on responses of over 1,150 Realtors in the United States. State survey results for Q2 are available for the following states : Texas home prices survey, Florida home prices survey, California home prices survey, New York home prices survey, New Jersey home prices surveyGeorgia home prices survey, Arizona home prices survey,  North Carolina home prices survey,Virginia home prices survey , Massachusetts home prices survey ,Washington home prices survey,Colorado home prices survey

Louis Cammarosano




One Response on “HomeGain Releases 2nd Qtr Georgia Home Prices Survey Data”


These are great stats. At what point do you think are we going to have a consensus that home prices are fair? Home prices can only go so low and can’t be considered to be over priced forever.

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