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Alpharetta Real Estate Market Update
By Ryan Ward | February 11, 2008
The real estate market in general here in North fulton seems to be picking up and buyers are definitely showing more interest. Our website visitors are up and the number of inquiries we receive has spiked in recent weeks. Homes are selling and interest rates are low, low, low! So how is that translating for the Alpharetta market? Let’s have a look.
Currently there are 1372 homes for sale in Alpharetta that range in price from $6,495,000 to $125,000. there are an additional 194 homes working on a contract that range in price from $1,149,000 to $143,000.
In January, 61 homes sold (this number should go up as more are input into the FMLS). During the last 3 months 301 homes have sold and if we use these numbers, we see that the absorption rate is about 13.7 months.
The next few months will be a good indicator of the direction the market will go for the rest of the year. If the recent upswing in activity is any indication, we might well begin to see a reduction in inventory which will have a direct impact on buyers and sellers.
All of that aside, even during the worst part of this downswing, home values in Alpharetta have increased, even with lower sales. This is indicative of the fundamental strength of the Alpharetta market and fundamental real estate principles in general; good homes in good areas that are not overpriced will sell because of underlying qualities such as schools, quality of life and cost of living compared with neighboring areas.
If you are looking to buy or sell Alpharetta real estate, please give us a call today at 404.630.3187.
Topics: Alpharetta Real Estate |
March 1st, 2008 at 10:12 pm
North Fulton and Alpharetta sound like really great places to live, Keep up the great work Ryan.
March 2nd, 2008 at 9:21 pm
Market here in Summit NJ is going strong this year. Feels like we are back to a even market, not a sellers market and not a buyers market.
April 16th, 2008 at 10:20 pm
[...] the last market update for Alpharetta that I did the second week of February there were 1,372 homes for sale. Here we are about 2 months later there are 1,384. Essentially the [...]