The new FMLS statistics have just been released for Area 14 sales this week. Area 14 is the MLS designation for the East side of North Fulton County (East of GA 400 in Fulton County - includes unincorporated North Fulton, Alpharetta, Roswell and the new city of John's Creek.) From last January sales are off over 50%. For the Month of January 2008 there were only 60 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 14 with over 1155 Active Listings! A substantial drop in sales activity. Homes sold for 94.88% of OLP/SP.
North Fulton Area 14 Single Family Homes Sold in January 2008 Comparison
- January 2008 60 Sales Single Family Homes Average Sales price $ 450,331 Day to Sell 74
- January 2007 103 Sales Single Family Homes Average Sales price $ 403,858 Days to Sell 77
- January 2006 113 Sales Sales Single Family Homes Average Sales price $ 395,698 Days to Sell 54
- January 2005 106 Sales Sales Single Family Homes Average Sales price $392,700 Days to Sell 64
Active - 1155 Properties Found
North Fulton Condos and Town Homes Sold Area 14 in January 2008 Comparison
- January 2008 Sold - 16 Sales Condo / Town Homes Average Sales price $ 214,585 Days to Sell 103
- January 2007 Sold - 25 Sales Condo / Town Homes Average Sales price $ 192,262 Days to Sell 88
- January 2006 Sold - 26 Sales Condo / Town Homes Average Sales price $ 231,987 Days to Sell 86
- January 2005 Sold - 17 Sales Condo / Town Homes Average Sales price $ 207,387 Days to Sell 135
Active - 288 Properties Found- Condos and Town Homes sold for 93.94% o fOLP/SP.
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Good Grief!!! This is downright depressing.
Feel free to delete this comment.
I just posted two articles this a.m. about "It's time to buy". Of course, I'm talking about Montgomery County in MD and Lovettsville in VA.
I plan to spread the same message throughout my market area this week. I'm satisfied that prices are stable enough and with some good negotiation, our buyers can buy now with some peace of mind.
Homefinders, Real Estate in MD & VA, Lenn Harley, Broker, New & Resale Homes It is a great time to buy! Mortgage rates are incredible, there is a lot to choose from! Sellers are at least willing to listen to offers, and lenders are ready to deal! Let's get the word out!