Alpharetta, Johns Creek and Roswell Housing Market Has Shifted
We are consistently getting asked by our clients, especially those who are looking to make a move this year: what is going on with the housing market? As a result, we’ve put together a quick update of what we are seeing in the Alpharetta, Johns Creek and Roswell housing markets as we close out June.
Right now, the big “call out” is the number of listings in our local market with price reductions. A few months ago, this was a rare occurrence in the Alpharetta, Johns Creek, and Roswell markets. Today, we are seeing 29-35% of active listings reducing the initial list price 3-6%.
Interest rates and other factors have impacted buyer activity and traffic, as we have noted the past few months. This is clearly now starting to impact the price for roughly 1 out of every 3 homes that are listed.
We will be looking very closely at the June numbers for the average sales price to the original price ratio, as well as days on market, and failed listings.
So, what does all this mean? The days of just throwing a sign out in the yard and putting a “make me move” price may be over for now. Sellers can still get top-dollar, but it will take a strong marketing plan and the right price.
For example, Robin Martin and Associates just closed on a home in Alpharetta in the Tuxford community, which set a record sales price, hitting the first million dollar price point ever in the neighborhood! We are also proud to report that 100% of our listings have sold over the past 2 years and our key metrics continue to outperform the local market average!
We know what it takes to get homes sold for top-dollar during a more balanced market and will be ready to help our clients navigate this ever-changing market.
Our full report on June and the local housing market will be out in a few days, so stay tuned!