Tags: Business News, Community & Outreach
February 03, 2014Condominiums and townhomes, what we refer to in real estate as residential attached, remain in high demand and are often a great option for many types of buyers.
For instance, they are a perfect option for young professionals or single buyers who don't want the outside maintenance and lawn care.
A townhome may be the most affordable way to get into a particular school district.
Townhome and condo communities run the gambit, from small entry-level units with open parking to larger properties with one- or two-car garages, gated communities and luxury three-level homes.
Last year, there were 913 units sold in North Fulton, an increase of 25 percent, and 287 were sold in Forsyth County.
The demand and number of sales has led to very low inventory in our area. Based on what is currently on the market, there are only 1.8 months of inventory for North Fulton and 2.5 months of inventory in Forsyth County.
The low inventory has a large and direct impact on prices. So it is no surprise that comparing year-over-year sales for December, we have experienced a huge increase in the average sales price in our area.
In North Fulton, the average sales price was $205,183, which represents a 34 percent increase. In Forsyth County, the average sales price for December was $196,897, which was a jump of 28 percent over the previous year.
Bob Strader is a local realtor with the NORTH Group of Keller Williams Realty. Visit his blogs liveincumming.com or liveinalpharetta.com or email him: firstname.lastname@example.org.