Hello, and thanks for visiting Cox Brokers, where we bring you the latest market updates. This update is for August 2023 here in beautiful Alpharetta, Georgia.
Now, before we dive into the numbers, we want to extend a warm welcome to both our buyers and sellers who are tuning in today. Whether you're looking to make a move or simply curious about the real estate market, this update is designed to keep you engaged and interested.
Let's jump straight into the data. As of this month, we currently have a 1.66 Months Supply of Inventory. Over the past 12 months, the Months Supply of Inventory has seen a significant increase of 16.08%. What does this mean for you? Well, with a lower supply of homes available, it's important for buyers to act quickly when they find their dream property. And for sellers, it's a great time to consider listing your home as the demand remains strong.
Now, let's talk about the List to Sold Price percentage. In our market, the List to Sold Price percentage is an impressive 99.7%. This means that, on average, sellers are receiving almost their entire asking price. It's clear that buyers are willing to pay top dollar for the right property, making it an advantageous time for sellers to maximize their return on investment.
Moving on, the median days on market is currently at a remarkable 11 days. Yes, you heard that correctly. Homes are selling quickly in Alpharetta, Georgia. With such a short time frame, sellers can expect a prompt response from the market, while buyers need to be prepared to act swiftly when they find their ideal home.
Finally, let's talk about the median sold price, which currently stands at a substantial $740,000. This demonstrates the strength of the Alpharetta real estate market and the value it holds. Whether you're a buyer looking for a luxurious property or a seller hoping to capitalize on the market's upward trend, there are opportunities for both parties to achieve their goals.
As your trusted REALTORS® at Cox Brokers, we are here to guide you through this exciting market. Whether you're looking to buy or sell, our team has the expertise and resources to ensure a successful transaction.
Thanks again for visiting our website, and remember, if you have any questions or are ready to make a move, don't hesitate to reach out to Cox Brokers. We would love to work with you.
Until next time, take care and happy house hunting!