2023 Alpharetta, Roswell and Johns Creek Year End Results

For our local market, which covers Alpharetta, Johns Creek and Roswell, the results for 2023 were encouraging!

Home values increased in our local market by 7% for 2023. A number of communities are still in high demand receiving multiple offers, but others (along with homes not properly prepared and marketed) are showing signs of weakness.

Freddie Mac predicts prices will increase by 2.6% for 2024. We believe our local market will continue to perform better than the national average and rates are clearly going to play a large part in what happens in real estate as we move into 2024.

Total Days on market, which is the number of days it takes for a listing to go Under Contract, increased by 7 days or 30%, compared to 2022. Currently the total days on market for the 39 homes listed in our local market is at 105 days, well over 3x the average for 2023.

The List Price vs. Sold Price average was 100% for the entire local market for 2023. Reduced commission listings under performed by 3% pts or $20,396 compared to the market average and 6% or over $40,000 compared to listings sold by Robin Martin & Associates.

Price reductions increased in 2023 and the final data will be out in a few weeks. We note that almost 50% of currently active listings have completed a price reduction of 7%, on average. With a local average price of close to $900,000 this is a $60,000 decrease for sellers, which is why we always stress to our clients that price and presentation are critical.

When looking at the various options for listing your home, one needs to consider the net results! There will be more updates both in our upcoming newsletter, for those that are on our mailing list, and future blog and social posts. If you’re thinking of making a move in 2024, give us a call! (678) 665-0202.