Update on Alpharetta in 30004

The next few posts will be about the area within Atlanta that I live, Alpharetta. For quite some time, Alpharetta has been used as a general area which now consists of two additional cities; John's Creek and Milton. So, from now on I will separate statistics as best as is possible into the correct areas because agents are beginning to list homes in the correct cities making the statistics more and more accurate. Alpharetta (not John's Creek and Milton), can still be broken in to 2 different areas and three different zip codes; East Alpharetta (30022 and 30005) and West Alpharetta (30004) and is separated basically by Georgia 400 which runs north and south from Atlanta up through Cumming and beyond. Personally, I think it would be more accurate to talk about Alpharetta in terms of north and south, but, I don't make the rules. O.K. enough on that, let's get to the actual statistics. West Alpharetta is less densely populated and homes generally have larger lots than East Alpharetta and you may find that you get a bit more home on the west side.

2007 vs. 2006

In 2007 there were 693 homes sold compared with 2006 when 805 homes sold. This is a drop of 13.9% Unfortunately, it's not very easy to look at price differences when dealing with more than 250 homes at a time in the MLS so I'll have to try to break this down by quarter.

2006 Quarter 1 average sales price - $393, 243; 2007 quarter 1 average sales price - $476,435

2006 Quarter 2 average sales price - $482,631; 2007 quarter 2 average sales price - $541,697

2006 quarter 3 average sales price - $509,238; 2007 quarter 3 average sales price - $505,887

2006 Quarter 4 average sales price - $450,448; 2007 quarter 4 average sales price - $435,494

From these numbers it's hard to see, and if I find a better way of doing this, I will surely post it differently, but, what I want to point out is that home values actually increased during this time of decreasing sales. The only way that I can illustrate this is by using statistics from a slightly larger area on the west side of GA 400 which includes Alpharetta, Milton and a portion of Roswell known as "area 13". In 2006 the average sales price was $416,000 and in 2007 that number went up to $447,000. that's an increase of 7.5%. Furthermore, in this larger area total sales in 2006 were 1,652 homes vs. 1,437 homes or a 13% drop in sales which is quite consistent with the drop for Alpharetta by itself. Days on market is another important indication but only reflects homes that were priced correctly and sold. In 2006 the days on market for this larger area was 59 days and in 2007 it was 74.

These statistics show a tale of two sides of a residential real estate market shifting from one that strongly favored sellers to one were it clearly became a buyers market - BUT - sellers held firm on price which is why total sales were down and days on market were up. More to the point is that the demand for truly good homes existed and still exists in the current market.

When you are seeking a real estate agent to work with you in Alpharetta and in the other areas of North Fulton County, we hope that you can see the value offered to you because of our careful and thorough knowledge of the Alpharetta real estate market. Whether you are considering listing your current home for sale or you are looking for a real estate agent who can represent you properly as a buyer in this market, we hope that you will consider myself and our real estate group.

To contact us about more specific information as it relates to your particular situation, I can personally be reached at 404.630.3187, or, if you prefer a more discreet approach, simply contact us through the contact form located at the top right section of my blog.

Thank you,

Ryan Ward

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