Luxury home sales soar 200%

Posted by Jeff Aughey on Tuesday, February 20th, 2007 at 10:26am.

January Sales Report What a way to start the year! My recent optimism has proven to be well founded. Sales were up strongly in most price ranges. The only slow spot in the market compared to December 2006 was the price range from $600,000 to $800,000, where sales were off 71.4%. Now it is time for the good news and there is lots of it. Home sales for those listed under $275,000 went up 28.7% over December. The mid price range from $275,000 up to $600,000 saw sales shoot up 55.9%. Our happiest Alpharetta home sellers were those with homes listed over $800,000, as sales soared 200% over last month. Sales were strong compared to December 2006 and now we will take a quick look to see how sales compared to January 2006.St Ives Country Club Sales were up 1.9% in January 2007 for homes priced under $275,000 as compared to January of last year. The mid range from $275,000 to $600,000 increased by a healthy 33.3%. This mid range number is very significant since the majority of the Alpharetta housing market falls into this price range. The upper tier of the market was off 10% over January 2006. There is enough good news out there for buyers and sellers to be enthusiastic right now. Buyers should feel good about interest rates that are still low, the ample supply of homes to choose from and the realistic expectation that near term price appreciation will make their home more valuable. Seller on the other hand should be rejoicing that the market in Alpharetta has bounced back a good bit from the sluggishness of the second half of last year. This market strengthening should allow them to sell their homes in a reasonable time frame if presented and priced properly. Stay tuned here to keep up to date on the Alpharetta real estate market as we head into the spring. All the best, Jeff

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