In November I sold two homes in Alpharetta - One in the Chadbourne Community and one in Deer Valley. The location of both communities plays a big role in the homes sales - both are close to Windward Parkway and HWY 400. While negotiating these transactions here are some stats that were helpful about the Alpharetta Area (area 14 according to the MLS:
Alpharetta Real Estate Report: (All information is as of October 2008 for area 14)
- Current homes for sale as of 11/1/08 1,081
- Homes sold in last 12 months 1,295
- Months Supply 10 months
There is a big difference in the months supply of inventory based on the price points. For example:
- Homes priced at $250K and below - the months supply goes from 2.4 months to 6.8 months - which is not a bad balance at all
- Homes priced at $250K to 750K - the months supply goes from 8.8 months to 14.3 months - definitely a buyers market
- Homes priced above 750K - the months supply goes from 17.9 months to over 23 months - in this price range it is a very strong buyers market.
Interest rates play a key role in the affordability of a home and when the rates rose over the past year, I think the higher priced homes slowed down considerably. Now that interest rates are below 5.5% we should see some move up buyers getting great deals on homes.
If you are thinking of buying a home in Alpharetta- call me. I know the area, know the market and as you can tell I know the stats of the area. All of these helps when we negiociate the purchase of a home. Call me at 770 722-7010 - John Foster Re/Max Greater Atlanta
Do you want to see the homes for Sale in Chadbourne? Visit www.FosterHomeinfo.comto search the MLS.
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