Market Update March 5, 2023

Alpharetta  Market Report – March 2023

Dear Neighbor,

Eventually, the extra work to maintain a larger home doesn’t make sense anymore. A smaller home could be more manageable and allow you to use that earned equity to pursue your personal goals. When you’re ready to sell, you want to make sure you’re doing everything to maximize the return on your lifelong investment.

For most of us, our homes are the largest asset we’ll ever own—so you’re correct in wanting to fully understand how to maximize your ROI. If you are thinking about selling/downsizing, you deserve the insight and guidance from an expert in your local market. 

Here are the top things to know about the Alpharetta real estate market right now:

Days on Market are Increasing

As sales slow, time on market is increasing, with the average home spending 19 days in February vs. 6 days on market in February last year, though there is still a consistent high demand. Compared to February 2022, the sale-to-list percentage (how close the actual sale price was to the original list price) dropped by 5%. To capitalize on your investment, you want to work with a real estate expert who understands how to strategically price and market your home, so you get maximum return.

Median Sale Price is in a Decline Making Your Listing Strategy Even More Important

Seller concessions have made a comeback, giving buyers more time and negotiating power when shopping for a home. However, when correctly priced and positioned well on the market, homes are selling at or above list price. That being said, the median sale price has increased by 6.9% year-over-year in February. These stats really add up when you are selling your largest financial asset—and that’s exactly why you deserve a strategic marketing plan.

We Continue to See Homes Sell With Multiple Offers

The Alpharetta market is slowing with 29.7% fewer closings in February compared to February of 2022. With the right strategic plan, pricing, and positioning for your property and your goals, we can attract maximum offers and get your home sold for the highest possible price in the fewest days on market. 

As a homeowner whose life is drastically changing, what does this mean for you?

If you’re thinking about selling in the next 12 months, now is the time to start preparing for the market.

With over $25M sold in metro Atlanta real estate and experience leading a team to the top 10% of the Atlanta area, I understand the expert negotiation skills required to get your home sold for the highest price in the fewest days on market.

When you work with me, you will always have a direct line of communication. My commitment to excellent service and trusted guidance through this major life event are just a few of the many reasons why my clients choose to work with me.

If you are thinking about selling your home in the next 12 months, call me today for your Strategic Marketing Consultation 678-896-2442

We will cover your goals, and with my unique approach, we will get you the highest possible price in the fewest days on market.

Call Today → 678-896-2442

Christine Malmos
License # 373000
Christine & Company, LLC powered by Coldwell Banker Realty

Alpharetta/Milton Market Highlights

Single-Family Home Stats February 2023 vs. February 2022 Analysis
Median Sale Price Up 6.9% Median sale price is now at $559k, up 6.9% from $523k in February 2022. When you price correctly from day one, you can maximize offers and ultimately sell for the highest possible price as quickly as possible.
Median Days on Market Up 13 days Median days on market have increased to 19 in February. Strategic pricing and marketing ensure your home sells for top dollar in the fewest days on market.
Sale-to-List Price Ratio Down 4.9% Correctly priced, strategically marketed homes are selling at or above list price, making it especially important to start with an expert strategy from day one to sell for the highest possible price in the fewest days on market.
Price per Square Foot Up 8.5% Demand in Alpharetta is on the rise, and price per square foot is now at $243/sq. ft. in February. To maximize your results, it’s extremely important to have a proven strategy and expert guidance from the beginning.

Source: First Multiple Listing Service

Looking Ahead 

Here’s what we’ll be watching over the coming months:

  1. Low Supply of Available Homes 

Alpharetta had a 47.6% increase in available homes in February compared to last year, and there’s no telling when it will slow down. With demand still high and the median sale price steadily increasing—up 6.9% in February compared to February 2022—sellers who work with an expert to properly position themselves on the market can generally expect to secure a nice return.

  1. Buyers Are Eagerly Searching

Buyers are eager to scoop up the available inventory. The days on market in February was only 19 days, a 216% increase from February 2022. With inventory as low as it is, it’s a great time to sell. Regardless of what twists and turns the market takes, to truly maximize your return on investment, it’s crucial that you strategically position your home to buyers.

  1. Continued Growth In Alpharetta

As Alpharetta develops, we’ll continue to see property values increase. Here are just a few things to note:

  • Alpharetta was ranked #12 in Georgia’s most popular cities.
  • Alpharetta is known far and wide as the Technology City of the South due to the large number of tech-focused companies that call Alpharetta home.
  • Alpharetta has been voted Niche’s 2021 Best Place to Raise a Family in Georgia. It offers some of the best schools in Georgia, boasting a mix of public and private schools along with award-winning daycare centers.
  1. What to Expect When Selling Your Home

The market consistently evolves–and you deserve to sell for the highest possible price no matter what. The right marketing strategy, pricing knowledge, and negotiation power are what make the difference when you’re ready to sell your home and embark on what may be one of the largest financial transactions of your lifetime. 

If you are thinking about selling your home in the next 12 months, call me today for your Strategic Marketing Consultation 678-896-2442