The real estate market in North Atlanta, including key suburbs like Alpharetta, Roswell, Johns Creek, Milton, and Marietta, continues to show strong year-over-year price appreciation. However, month-over-month comparisons reveal a cooling trend, with some areas experiencing declines.

• Price Trends: In July, Alpharetta and Johns Creek saw decreases of -5% and -9%, respectively, compared to June.
• Days on Market: There has been a significant increase in the time it takes for homes to go under contract, up 40% in the Greater Atlanta Market, and similarly in Roswell and Marietta, with Marietta seeing a 33% increase. Despite this, days on market remain historically low, but the trend indicates a cooling market.
• New Listings vs. Closed Sales: There is a noticeable increase in new listings, with Alpharetta seeing a 59% rise, while homes sold increased by only 2%. This imbalance suggests a shift towards a better buyer’s market.
• Sales Prices vs. List Prices: Homes are selling for less than their original list prices, with a decline in this ratio over the past two months.

Market Insights:

• Variations: Certain school districts, neighborhoods like Willow Springs, Nesbit Lakes, Tuxford, and others, as well as the city of Milton show continued strength.
• Home Presentation: Properly presented and competitively priced homes are performing better, highlighting the need for strategic pricing and preparation in a softening market.
• Mortgage Rates: With mortgage rates decreasing, there is potential for a resurgence in demand as affordability improves.

Our Performance:

In July, Robin Martin & Associates successfully closed 7 home sales. Our listings sold over 3 times faster than the market average and for a 1.5% premium when comparing sold to list price. Our expertise and market knowledge play a crucial role in achieving these results.

For those looking to navigate this evolving market, we invite you to explore our blog on winning multiple offers here. For personalized guidance and support, contact us at 678-665-0202.

* Source: FMLS, 8/8/24 Robin Martin vs. Greater Atlanta