As part of a regular series, I am going to begin sharing what is happening in specific real estate markets in and around the Atlanta market place. Each week I will focus on a specific area and provide information on recent sales statistics including what the Original List Price to Sales Price ratio was for the last month and what it is YTD, the average months of supply for the area based on recent sales, the average days on market, year over year sales comparisons and much much more. Check back often to get regular updates on what's happening in Dunwoody, Sandy Springs, Brookhaven, Roswell and Alpharetta!
This week our focus is going to be on Area 13, or what is more commonly known as Roswell and Alpharetta on the west side of 400 in Fulton County. Today's graph is a summary of the Months Supply of Inventory based on the number of homes sold per month.
In this graph you will see the number of Active units on the market each month, the number of homes sold in a given month and the Months Supply as a result of these two statistics since January 2008. It is commonly accepted that a "Balanced Market" is one in which there is an average of about 6 months supply.
This graph provides a nice snapshot in regards to how far or close the real estate market has been in Area 13 to a Balance Market. In January 2009 there was a 24 month supply of homes based on homes sold for that month. The average Months supply YTD is approximately 16.3 months, however we have seen marked improvement since then, indicating demand is catching up with supply and activity has been picking up. Please click the graph to expand it for easier viewing.
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