12Jun
Alpharetta Real Estate Sells for $100k More on Average than Roswell and East Cobb Real Estate
categories: Alpharetta Real Estate, Local Market Conditions, Roswell Real Estate
My fellow Realtor, Kathy Drewien, in Marietta does a great job of compiling market statistics in her area. She does it the old-fashioned way: with hard work and expertise. She recently did a comparison of East Cobb, Roswell and Alpharetta. The analysis was done by zip code, so the Alpharetta numbers include Milton and Johns Creek real estate, but none the less the numbers are intriguing.
Her analysis shows that on average Alpharetta real estate sells for about $100,000 more than East Cobb (Roswell and Marietta addresses) and Roswell (Fulton County addresses). Click Here for all the numbers from Kathy.
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It would be interesting if those numbers included an analysis of sale price per square foot. The homes in Alpharetta, Johns Creek, and Milton seem so much larger. With that in mind I would have expected a much higher difference in average sale price. Are people paying a premium in Roswell (in terms of per-square foot cost) for a better commute to Atlanta?
Scott, I have no data to support this, but my gut tells me that people do NOT pay a premium to be closer to Atlanta. So few people actually work in Atlanta now that being closer doesn’t matter. In fact, there is so much in-migration to Alpharetta every day to work (maybe 40-50k people) that many people will pay a premium to be in Alpharetta. Plus, as you say, the homes are generally speaking larger - and newer.
As much as I’d like to do it, price per square footage analysis is next to impossible. The tax assessor does report price per square foot on the tax records, but the square footage numbers that they have are very suspect. The closest thing is to compare price per square foot for new construction where the builder knows exactly how many square feet are in the house.
Generally speaking - and it is a wild guess - resales sell for around $125-$150 per square foot. That means you can get a 4000 square foot house for around $500,000 easily.