North Fulton Home Sales: Market Update
categories: Alpharetta Real Estate, Crabapple, Local Market Conditions, Milton Real Estate, Roswell Real Estate
Here Comes The Sun
It’s been a long cold lonely winter… And there have been a few news reports recently stating that home sales declined from November to December last year and this means the recovery won’t happen or the light at the end of the tunnel is much further away. The reason is kind of obvious, with the first-time home buyer tax credit originally expiring at the end of November there was a rush by home buyers to get in under the wire. So news reporters keeps driving this negative point in some effort to perpetuate some scary outlook for the economy.
To be sure, jobs are still an issue and looks like they will be for some time, but the real estate market here in Atlanta is still trending in a positive direction, just like it was in November. For instance, the number of single family homes sold in Metro Atlanta for Dec 09′ has increased over Dec 08′ and for condos/townhomes that increase is more than 20%. So, I’ve put together some numbers for North Fulton specifically…
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Single Family Homes Sold |
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Sold |
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Sold |
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Dec-08 |
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Dec-09 |
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Increase |
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Alpharetta / Milton / Johns Creek |
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121 |
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150 |
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23.97% |
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Roswell |
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52 |
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71 |
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36.54% |
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Duluth* |
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54 |
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57 |
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5.56% |
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All of N. Fulton |
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164 |
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200 |
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21.95% |
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*includes some sales in Gwinnett |
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We are outpacing the rest of metro Atlanta and inventory levels are down to levels not seen since 2005. Foreclosures are still an issue despite a high level of competition among buyers for bank owned property. But take note of those stale subdivisions because builders like Ashton Woods and John Wieland are on a buying spree, and why wouldn’t they be with half priced lots out there in subdivisions like Breamridge and Crabapple Crossroads. There is pent-up demand for reasonably priced new construction, which buyers tend to gravitate to. Barring any significant economic hiccups we’ll hear the sounds of hammers and saws again in Crabapple and the surrounding area. It’s already happening in Forsyth County… and those homes are selling briskly.
