Roswell Real Estate Market Update

Roswell Georgia offers buyers some of the best value for their money in North Fulton. The location makes it more reasonable to commute in to the city of Atlanta compared to northern sections of Alpharetta, Milton and Cumming and it isn't necessary to pay more for a home, but, like other areas of Atlanta and the rest of the real estate market, Roswell has seen modest price declines and a major reduction in sales volume. Below is an update on the market for Roswell.

• There are currently 752 homes for sale in Roswell.
• There are an additional 88 homes pending sale or at various stages of the offer period.
• In January, 31 homes sold in Roswell.
• In December, 51 homes sold.
• In November, 40 homes sold.
• The three month absorption rate, or months supply of inventory is 18.5.
• The activity index indicates a 8.5 month supply.

This is just a bit more inventory supply than we see in Greater Atlanta and slightly lower too than Roswell's northern neighbor of Alpharetta which has an inventory (month supply of homes) just over 19 months. All of this is due to the continued slowdown in sales volume that in large part is due to the meltdown of the sub prime lending market which no longer exists. Because of the unbalance in supply as it relates to demand for Roswell real estate, we are likely to see continued price declines - even if slight until we see inventory levels below 12 months or maybe even more. Sales volume will remain low or near it's current pace with a slight rise due to the summer sales season which will make it nearly impossible for inventories to reach the necessary lower levels until 2010 at the earliest before we can begin to start talking about a more balanced real estate market.

I look forward again to the times that I can write about the hot or at least heating up real estate market in Roswell and the surrounding areas, but, it just can't happen when you have a real estate market that is this far out of balance. As with most things, there are two sides to the coin and what's bad for one group is typically good for another. In this case, it's a great time to buy. You probably still have some reservations about buying because of a fear of further price declines. If you are a buyer working on your own, it will be difficult for you to ascertain whether a home that you are interested in is likely to continue declining in value or if it happens to be a home that is at or very near the lowest price that you will be able to buy it for. There are many many homes that are already at the bottom, but, you will need to be able to navigate through and find the right one. For this, you really should work with a real estate agent who understands the market and won't try to push you in a direction which makes you uncomfortable or can't provide you with information to help you understand why or why not there maybe be risk of further price declines in any home you may be interested in. Find someone who will listen to you and understand your concerns. Basically, find an expert. If you find yourself in the position of wanting to or needing to buy a home in Roswell, give us a call. We won't pitch you or extol the virtues of why NOW is a MUST TIME to BUY. Instead we will work with you and help you to meet your needs and goals by consulting with you through the entire process.

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