North Fulton Homes January 2008 Homes Sales Drop 50% - Atlanta Home Sales Decline in North Fulton on Westside GA 400 in MLS Area 13

By
Real Estate Agent with Crye-Leike REALTORS® 165062

North Fulton MLS Area 13The new FMLS statistics have just been released for Area 13 sales this week. Area 13 is the MLS designation for the west side of North Fulton County (West of GA 400 in Fulton County - includes Roswell, Milton and city of Alpharetta.) From last January sales are off over 50%. For the Month of January 2008 there were only 44 Single Family Home Sales. This is a bitter pill to swallow with the reality of all time highs in inventory of other homes for sale in Area 13 with over 1113 Active Listings! A substantial drop in sales activity.

 

North Fulton Area 13 Single Family Homes January 2008 Comparison

  • January 2008 44 Sales Single Family Homes Average Sales price $ 497,015 Day to Sell 122
  • January 2007 88 Sales Single Family Homes Average Sales price $ 389,921 Days to Sell 84
  • January 2006 66 Sales Sales Single Family Homes Average Sales price $341,596 Days to Sell 69
  • January 2005 113 Sales Sales Single Family Homes Average Sales price $392,700 Days to Sell 81

Active - 1113 Properties Found


Condos and Town Homes Area 13 North Fulton January 2008 Comparison

  • January 2008 Sold - 13 Sales Condo / Town Homes Average Sales price $ 250,518 Days to Sell 100
  • January 2007 Sold - 32 Sales Condo / Town Homes Average Sales price $ 186,883 Days to Sell 98
  • January 2006 Sold - 29 Sales Condo / Town Homes Average Sales price $ 242,514 Days to Sell 75
  • January 2005 Sold - 32 Sales Condo / Town Homes Average Sales price $ 211,108 Days to Sell 84


Active - 423 Properties Found

Jim Crawford

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Rainmaker
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Donna Yates
BHGRE - Metro Brokers - Blue Ridge, GA
Blue Ridge Mountains
Jim:  What an eye opener!  I just keep telling myself that "this too will pass".  Want it be well worth the struggle when the market starts back up.  I know there is light at the end of this "business cycle".
Feb 23, 2008 07:33 PM #1
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Jim Crawford
Crye-Leike REALTORS® - Atlanta, GA
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Donna Yates, Georgia Realtor, N GA Blue Ridge Mountains Real Estate  Donna I know!  The numbers that came out the other day are real eyeopeners even for January!  FMLS - the Atlanta Metro MLS is comprised of 24 counties - that is as big as 5 states!  Only 2400 sales out of 83,500 listings?  Ouch!  If we look at these numbers for Area 13 - we have 27 months of inventory not counting foreclosures (44 sales out of 1113 Active Listings.)
Feb 24, 2008 01:51 AM #2
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Karen Kruschka
RE/MAX Executives - Woodbridge, VA
- "My Experience Isn't Expensive - It's PRICELESS"
Jim  Same story here in Northern Virginia - if we are going to see an improvement in 2008 somebody has to convince buying prospects they may get back in the market too late,  Karen
Feb 24, 2008 01:56 AM #3
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Jim Crawford
Crye-Leike REALTORS® - Atlanta, GA
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Karen Kruschka - One of the most experienced agents in Northern Virginia  I agree.  BankRate.com interviewed me over the summer, and my interview spread like wild fire.  The quote that became famous was a "A buyers market without buyers!"  I wish to say conditions improvced, but they have not.  Real estate is coming back to reality, and that confidence is going to take some time.   The new market will be driven by need instead of greed. The transition has started, but it will take time to take hold.  Initially I thought recovery would be this year, I no longer think so.  It will start to recover sometime next year.  The numbers are just too exaggerated.

Feb 24, 2008 02:08 AM #4
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