Alpharetta Real Estate

Alpharetta real estate market statistics for the first quarter of 2007. The market is best split into three groups; homes under $500,000, homes between $500,000 and $1,000,000 and homes above $1,000,000. I gathered these statistics from the Alpharetta MLS, which is part of the Atlanta First Multiple Listing Service, the FMLS.

 Homes For Sale Under $500,000

Active Listings - Currently there are 642 active homes for sale under $500,000.

Pending - The number of homes currently under contract is 257.

Homes Sold - The number of homes sold is 352.

List Price/Sales Price - The percentage of a home's original list price to the actual sales price is an excellent indication of whether or not buyers are willing to pay what sellers are asking for homes. This year, Alpharetta real estate under $500,000, has a list price to sales price of 97%. This number does not factor in how much money seller's contributed to buyer's closing costs, therefore the actual number is slightly lower.

Absorption rate - If no new homes come on the market, the statistics indicate that all available homes would be sold in about 5.5 months. This is an indication that the real estate market is remaining strong.

Days on Market - Days on market indicates the amount of time on average that it takes for a home to go from listed to under contract. Alpharetta homes are selling in 81 days. This is an indication of the overall strength of the Alpharetta real estate market.

Alpharetta Homes Between $500,000 - $1,000,000

Active Listings - Currently there are 535 active homes for sale between $500,000 and $1,000,000.

Pending - The number of homes currently under contract is 95.

Homes Sold - The number of homes sold so far this year is 96.

List Price/Sales Price - The percentage of a home's original list price to the actual sales price is an excellent indication of whether or not buyers are willing to pay what sellers are asking for homes. In Alpharetta this year, between $500,000 and $1,000,000. that percentage is 96%. This number does not factor in how much money seller's contributed to buyer's closing costs, therefore the actual number is slightly lower.

Absorption rate - If no new homes come on the market, the statistics indicate that all available homes would be sold in about 17 months. We are entering into the time of year where we traditionally see the greatest number of buying and selling interest so this number is a little skewed to the high side currently. This should settle down to a lower absorption rate in the next month or two.

Days on Market - Days on market indicates the amount of time on average that it takes for a home to go from listed to under contract. This year in Alpharetta that number is 82. This is an indication of the overall strength of the Alpharetta real estate market. Under 90 days is a good barometer of a strong real estate market.

 Alpharetta Luxury Real Estate $1,000,000

Active Listings - Currently there are 252 active homes for sale above $1,000,000.

Pending - The number of homes currently under contract is 29.

Homes Sold - The number of homes sold is 20.

List Price/Sales Price - The percentage of a home's original list price to the actual sales price is an excellent indication of whether or not buyers are willing to pay what sellers are asking for homes. In Alpharetta this year, above $1,000,000 that percentage is 90%. This number does not factor in how much money seller's contributed to buyer's closing costs, therefore the actual number is slightly lower.

Absorption rate - If no new homes come on the market, the statistics indicate that all available homes would be sold in about 38 months! This is an indication that the real estate market is  flooded with luxury real estate. Luxury homes at this price point are expected to take longer to sell than less expensive homes, but with this many available, you really have to wonder what builders are thinking by continuing to come out of the ground with new construction luxury homes. A great opportunity has presented itself for the savvy buyer of luxury real estate!

Days on Market - Days on market indicates the amount of time on average that it takes for a home to go from listed to under contract. This year in Alpharetta that number is 169. This number could change dramatically with a few more homes sold. More information is needed to determine a more accurate number.

One can look at the above data and see that if you are planning on buying a home or selling your home in Alpharetta, with the proper guidance from a Realtor, and an understanding of where the real estate market is heading, you can achieve your goal. For more information, visit my Alpharetta real estate website.

Ryan Ward is a Realtor who specializes in listing and selling real estate in Alpharetta. For more information about Alpharetta homes for sale, contact Ryan Ward at 404.630.3187.