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What’s Really Happening in the Alpharetta Real Estate Market
By Ryan Ward | April 30, 2008
O.K. As a consumer, you deserve to get the very best, most accurate information that we as real estate professionals have available. Most of the time, we can login to our trusted accounts in the FMLS and enter in what we are looking for and the system will dump the data in our laps which we then give to you in an easily digestible way. This is the case for most areas - except for Alpharetta. The problem is that agents enter listings from John’s Creek, Milton, Cumming and Cherokee County as “Alpharetta” so the numbers are terribly skewed. If I enter “Alpharetta” into the FMLS, the data is not very accurate because the markets are quite different even in the surrounding city’s that are adjacent to Alpharetta. O.K. so enough about that. Last August I wrote a post showing how you can find out if you actually are in or are looking at a house that actually is in Alpharetta, but, that doesn’t make it any easier for us to actually give you accurate information.
However, there is a way that we can get the information out of the FMLS and you can get it right here. So let’s get to it shall we?
- Right now, there are 419 homes for sale in Alpharetta.
- There 56 pending and contingent homes in Alpharetta.
- In the last 30 days, 28 homes have sold - that is an absorption rate of 15 months - a bad market for sellers. The days on market is 99 and the average sold price is $413,000.
- In the last 60 days, 56 homes have sold - that is an absorption rate of…15 months (the same as the last 30 days). The days on market is 97 days and the average sold price was $411,869.
- In the last 90 days, 69 homes have sold - the absorption rate over this period is 18 months - very bad for one of the most popular areas in all of Metro Atlanta. The days on market is 94 days and the average sold price was $394,000.
So there are the meat of the numbers for you. I do see a little glimmer of good news in those numbers. The sold values are a bit of a red herring as the actual values in Alpharetta are actually down over the last 12 months if you plot them on a map and on a trend line. You can see that graph here. But, the absorption rate is trending down. A little. Pending homes are on the rise slightly as well, but really, the market is flat more than anything. Flat itself is better than it was last fall.
Now, as far as the overall market in North Fulton that I follow, values in Alpharetta are down over the last year while they are up in Sandy Springs and in at least parts of Roswell, specifically 30076.
Looking for More?
Feel free to contact me with specific questions or if you see something that that doesn’t seem to jive with what you have seen elsewhere. I will be happy to show you how we make certain our information is the most accurate available to the consumer.
As Always…
The best place to search for Alpharetta real estate is on my website.
Topics: Alpharetta Real Estate |
