Go to the new Atlanta Real Estate Blog

Subscribe

We’ve Moved! Please Click the Link Above to Visit the New Blog!

Please visit our new Atlanta real estate blog.


« Columbus GA Real Estate | Main | Longboat Key, Florida Real Estate »

Alpharetta Home Values

By Ryan Ward | August 21, 2007

The real estate market has changed over the last several months and I wanted to put together some statistics to try to see how prices have changed since last year at different price points. I suspect that we will see similar patterns for Alpharetta real estate that we see in the rest of Metro Atlanta. I gathered these statistics usung the FMLS, the MLS most agents use to list Alpharetta homes for sale. This will allow for the most data to get the most complete statistical information.

Let’s take a look at several different price points:

Under $200,000:

$200,000 - $225,000:

$225,000 - $250,000:

$250,000 - $275,000:

$275,000 - $300,000:

$400,000 - $500,000:

$600,000 - $800,000:

$800,000 - $1,000,000:

Over $1,000,000:

Overall:

Looking over these statistics broken down, it would be difficult to say that the slowdown in sales has effected home values very much, if at all. Furthermore, there has been no real slowdown in total sales either:

From this information, I would say that the Alpharetta real estate market has remained rather stable in a changing market. This is indicative of a stronger than average housing market and hopefully is a good sign for the remainder of 2007 heading into 2008.

Category: Alpharetta Real Estate |

7 Responses to “Alpharetta Home Values”

  1. Sam Chapman Says:
    August 26th, 2007 at 3:57 pm

    Ryan - a decline in price is one way to recognize a slowing market. What about time to sell? Has your average days on market gone up?

  2. Mike Says:
    August 27th, 2007 at 1:47 pm

    I don’t understand how breaking down sales prices into a dozen price brackets will show any useful and comparable statistics. Let’s say a $320,000 home that sold in 2005 goes back on the market in 2007 and sells for $295,000. That home won’t be in the same pricing bracket in 2005 as it would be in 2007. Your methodology does not make any sense whatsoever.

  3. Mike Says:
    August 27th, 2007 at 1:49 pm

    It would be more useful to track sales in each price bracket, not the average price in each bracket. For the price sold comparisons, it’s best just to use the overall median price and not to break it down into different categories, unless you were to use wider ranges, say under $200k, $200-400k, and over $400k.

  4. Ryan Ward Says:
    August 27th, 2007 at 1:59 pm

    Sam,

    Days on market is about the same…

    Mike,

    Different people look for different things. I write a lot of statistics here and on a few other blogs. What you are trying to identify by viewing statistics such as these are trends. You can’t really look at any one type of statistical set and draw good conclusions. If you were to run through this blog and look at a number of different statistical sets, you will see that there is a bigger picture and I do look at datat sets several different ways. Instead of simply looking them up on a computer and then closing the page, I generally type them in so there is a permanent record to go back and view if I ever need them.

    As to determining the value of these staistics is concerned - If you wanted to know the average price of all homes for sale in Alpharetta in 2006 vs. 2007 you would do the same thing as this in one set. I actually wrote this after talking with someone on the phone who asked this question. They wanted to know if the average sales price within a specific range was going up, down or staying the same.

    Are you looking for a specific set of values that I can help you with? I’ll be happy to help….Just let me know.

  5. Kevin Says:
    September 1st, 2007 at 11:21 am

    I’m trying to make sense of your statistics but I’m still confused even after your response to Mike. How do you interpret this is to show the state of the market?

  6. Ryan Ward Says:
    September 1st, 2007 at 12:14 pm

    Like I said above, it’s just a further breakdown of the standard “how are prices compared to last year” statistic. It isn’t helpful to look at one stat and expect to see a broad picture. If you look and see some trends, (which there are none to be seen here as some ranges are higher while others are lower), then you may have been able to say something like “homes above this price range show a decline in price at all price points from $500,000 and up”…

    Instead what you see is very little change across any price points. It supports other evidence that the market is not in decline, rather, flat and it does not support any sort of impending doom in the market…

    Does that help?

  7. Jacqulyn Richey Says:
    September 4th, 2007 at 8:59 pm

    You’re right, you really can’t pigeon hole it with prices below x did this… There really isn’t a pattern based on price range. Some went down while others went up. The GLVAR here released the same type of figures going back two years. Generally prices went down this year compared to prior years, although luxury homes / condos are holding fairly steady.

Comments