Real Estate Sales In Alpharetta

Many of you who have read my blog know that I keep up with statistics and try to post regularly so that you have an "in" source for your information that is much better than what you get from the local paper or news reports. While I recognize (as most do) that the market is not what it was a year ago, we still have much to be happy about - at least in Alpharetta. Homes still sell and the ones that aren't selling are really homes that are overpriced for their condition. At the end of the day, it's always about price. It's just a matter of whether a seller can afford to sell at the price required to make it happen. Wow! I have digressed and I'm sorry. Anyway, here are the statistics for the Alpharetta real estate market for October in 2007 compared with 2006.

October sales:

• In October or 2006, 176 homes sold.
• In October of 2007, 133 homes sold - 25% down.

Days on Market:

• 2006 - 54 days
• 2007 - 74 days

Average Price:

• 2006 - $410,337
• 2007 - $386,212

What it means now and in the months to come.

Sales are down 25% year to year, but, down less than Atlanta as a whole which is down 31%. However the significant statistic hear is the reduction in sales price. While this is a painful number to see, it does mean a couple of things; sellers have come to realize that price reductions were necessary and have lowered their prices to sell. It also means that lower prices have hit the market and that means buyers will be able to find the values needed to get them off of the fence and to the closing table. That should plug the hole in the market and should help to begin the much needed reduction of inventory. That should put us on track for a better market in 2008.

Ryan Ward
Atlanta Real Estate
404.630.3187

• Rate this Post!

  Select Your Rating:

  • 5 Stars (Excellent!)
  • 4 Stars
  • 3 Stars
  • 2 Stars
  • 1 Stars (Poor)

• Share this Post

  Share With A Friend:

  Your Name Your Email

  Friend's Name Friend's Email

  Optional Message

  Send

• Print
• Social Bookmarking

  Add to Bookmarks: