Statistics for single family detached homes in the Forsyth County real estate market for the month of December 2008 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 25 properties ranging in price from $74,900 to $695,900 that went under contract and 52 properties that closed ranging in price from $112,000 to $1,192,000. In the new construction segment of the market 8 properties went under contract ranging in price from $258,800 to $999,000 and 23 properties closed ranging in price from $165,000 to $965,000.
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 18 properties ranging in price from $120,900 to $700,000 that went under contract and 21 properties that closed ranging in price from $165,000 to $480,000. In the new construction segment of the market 15 properties went under contract ranging in price from $228,990 to $599,900 and 12 properties closed ranging in price from $202,000 to $361,552.
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 9 properties ranging in price from $94,900 to $325,000 that went under contract and 15 properties that closed ranging in price from $138,000 to $363,000. In the new construction segment of the market 4 properties went under contract ranging in price from $257,273 to $450,000 and 5 properties closed ranging in price from $205,000 to $560,000.
Forsyth County Summary
For the month of December 2008, real estate sales for single family detached homes in Forsyth County looked like this:
• 52 Resale Properties Went Under Contract
• 88 Resale Properties Closed
• 27 New Construction Properties Went Under Contract
• 40 New Construction Properties Closed.
Compared to the previous 2 months December was a banner month for closings in Forsyth County. Properties going under contract and entering into the pending sale category remained fairly constant. This seems to be a good indicator that buyer’s for properties in Forsyth County may be entering back into the market to take advantage of the lower interest rates and the pricing corrections that have been ongoing for the last year or so.
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Mack, That is more numbers than I can digest. Get the point however. I thought the lake was drying up!
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