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Homes For Sale In Alpharetta – Market Update

By Ryan Ward | June 25, 2009

It may be a bit early to tell, but there are signs of change in the Alpharetta market and all of Metro Atlanta as a whole. Homes for sale in Alpharetta continue to be more popular than most other areas of Atlanta. That hasn’t changed and there is really a long way left ot go before we see a balanced market because inventories remain extremely high. Having said that though, homes for sale in Alpharetta may be reaching what may later be called the beginning of the end. It will probably be summer of 2010 before we can forget about the fact that the advantage will go to the buyer, but, make no mistake – things are changing.

Take Glen Abbey for example. Glen Abbey is a neighborhood that up until recently was forgotten in favor of new construction homes as buyers flocked to the wes side of 400 and into Milton. A market review of homes for sale in Glen Abbey shows 13 active listings, 4 under contract and six sold in the last 2 months. This is about a 4 month supply of homes – a true sellers market number. It’s hard to say if this will last, but, the same time period one year earlier showed 6 sales as well. Most areas in Atlanta are showing fewer sales this year than last.

Windward is another area we are seeing some definitive pickup in volume. There are 94 active listings right now. In addition to those, there are 25 homes under contract. Again – this is looking at about 8 months of inventory with the future looking activity index. 20 homes have sold in the last 2 months which means that there is an actual absorption rate of around 9.4 months. Lower than at this time last year, lower than Alpharetta as a whole and lower than Metro Atlanta.

What is begininng to happen is that the more popular areas and more specifically the more popular neighborhoods with the best houses are starting to sell. Fast. Faster than last month. Faster than 3 months ago and faster than last year. This is worth talking about a littl ebit at this point, but, we really do need to see it continue some.

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