Statistics for single family detached homes in the Forsyth County real estate market for the month of January 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 38 properties ranging in price from $52,100 to $777,777 that went under contract and 10 properties that closed ranging in price from $122,000 to $425,000. In the new construction segment of the market 17 properties went under contract ranging in price from $249,900 to $649,900 and 5 properties closed ranging in price from $249,900 to $525,000.
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 $108,209 to $599,000 that went under contract and 6 properties that closed ranging in price from $34,000 to $420,000. In the new construction segment of the market 12 properties went under contract ranging in price from $198,535 to $629,900 and 3 properties closed ranging in price from $218,000 to $480,000.
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 $104,500 to $750,000 that went under contract and 4 properties that closed ranging in price from $126,000 to $436,100. In the new construction segment of the market 4 properties went under contract ranging in price from $154,995 to $374,900 and 2 properties closed ranging in price from $170,000 to $320,000.
Forsyth County Summary
For the month of January 2009, real estate sales for single family detached homes in Forsyth County looked like this:
• 65 Resale Properties Went Under Contract
• 20 Resale Properties Closed
• 33 New Construction Properties Went Under Contract
• 10 New Construction Properties Closed.
Comparing January of 2009 to December of 2008 we see an increase of 24.05 percent in properties going under contract in Forsyth County. I think it is safe to say that interest rates being at historically low levels has been a contributing factor to this positive movement in the market. It would be nice to see this continue for several months to establish a very positive trend for Forsyth County.
