Home sales tend to slow down in the fall and winter, and we see that reflected in the November sales for North Fulton and Forsyth County.
Comparing sales year-over-year for the month of November, unit sales dropped a modest 4 percent in North Fulton, but went down a whopping 22 percent in Forsyth County.
The seasonal shift to lower unit sales was expected, but it is interesting that the numbers varied so much between the two areas.
The good news though is that sales prices are still showing a solid increase over the same period last year.
The average sales price in Forsyth County is up 12 percent over last November to $277,116 and up 13 percent in North Fulton to $411,218.
Additionally, the average days-on-market is down 35 percent in Forsyth County and 38 percent in North Fulton.
So, on average, homes are selling for more than last year and selling more quickly.
Sales prices have shown strong improvement all year and will continue to make gains next year, but those gains will not be quite as robust with the additional inventory we'll see from new home building and with more sellers having crossed over the negative equity threshold into positive territory.
Ultimately, this will be a good thing as a balanced market is a healthy market.