Statistics for single family detached homes in the Forsyth County real estate market for the month of April 2009 are in. Forsyth County is divided into three different areas and we will examine each area and then look at the county as a whole.
Area 221
Area 221 is that section of the county that is East of GA 400 and includes addresses from the cities of Cumming, Suwanee and Alpharetta. In the resale segment of the market there were 123 properties ranging in price from $42,800 to $3,400,000 that went under contract and 65 properties that closed ranging in price from $91,000 to $1,200,000. In the new construction segment of the market 47 properties went under contract ranging in price from $258,800 to $1,795,000 and 7 properties closed ranging in price from $293,110 to $790,000.
Area 222
Area 222 is that section of the county that is West of GA 400, South of Hwy. 20 and includes the city of Cumming and part of Alpharetta. In the resale segment of the market there were 65 properties ranging in price from $50,000 to $899,000 that went under contract and 28 properties that closed ranging in price from $1659,900 to $424,000. In the new construction segment of the market 53 properties went under contract ranging in price from $194,900 to $729,900 and 12 properties closed ranging in price from $199,900 to $577,900.
Area 223
Area 223 is that section of the county that is West of Ga. 400, North of Hwy. 20, outside City limits of Cumming. In the resale segment of the market there were 37 properties ranging in price from $99,900 to $470,900 that went under contract and 21 properties that closed ranging in price from $119,900 to $301,500. In the new construction segment of the market 13 properties went under contract ranging in price from $189,900 to $519,900 and 9 properties closed ranging in price from $127,000 to $532,483.
Forsyth County Summary
For the month of December 2008, real estate sales for single family detached homes in Forsyth County looked like this:
• 225 Resale Properties Went Under Contract
• 114 Resale Properties Closed
• 113 New Construction Properties Went Under Contract
• 28 New Construction Properties Closed.
April of 2009 appears to have taken a huge step towards recovery in the real estate market in Forsyth County. Several national reports recently have stated that we may have reached the bottom of the market and a recovery, although it will probably be slower than many would like, is on the way.