Roswell Residential Real Estate Market
(Sources: City of Roswell Building Permits Office; Roswell Association of Realtors, Multiple Listing Service)
3rd Quarter, 2009
New Homes (Building Permits Issued)
Residential Resales (MLS Data)
Year # Listed # Sold % Sold Avg List $ Avg Sold $ DOM°
2003 1,071 703 65.6 81,842 77,815 132
2004 1,071 800 74.7 91,063 86,915 115
2005 1,158 888 76.6 103,495 99,640 95
2006 1,146 833 72.7 122,898 118,797 96
2007 1,182 795 67.3 131,114 126,201 99
2008 1,171 656 56.0 150,298 143,390 115
2009 850# 330# 38.8 143,681 136,042 125
2009 1,020* 342*
(# Actual through October, 2009)
(* Straightline annualized projection)
(° Days On Market)
New home construction in Roswell, 2003-2007, increased by 260%. While permits have crested since, Roswell’s builders and lenders are notably more optimistic than the national trend. As far as we know, none of Roswell’s banks or other lenders engaged in sub-prime lending and the lending market remains healthy here. While the price for new construction varies, a typical new Roswell home is priced in the $120-$125 per square foot range. This compares to a residential resale price range of anywhere from $50-$150 per square foot, with $80 per square foot representing a fair estimate of average resale price. Both new and resale home prices in Roswell represent a great value compared to most of America, owing to the low cost of living here.
Residential resale volume peaked in 2005, at the peak of low interest rates, although local rates remain very attractive for Roswell buyers. Current resale volume has been recovering throughout 2009 but it is clearly a “buyer’s market”. Residential resale average price peaked only last year, and remains relatively up. As of this writing there are 427 active residential resale listings on the Roswell MLS. You can access these listings on our website using the “Home Search” menu tab on our homepage.
There is one part of Roswell we think stands out in terms of value and upside. This is an area of older historic homes, sometimes needing updating, but the values can be phenomenal. We bought a home in this area in 2002 for 20% of a national appraiser’s replacement value! We will be happy to help you hunt a bargain in this “our little secret” part of Roswell. Or anywhere else you’d like to buy, for that matter! We are the experts. There are bargains to be had right now.
Roswell real estate prices remain well under national averages, making Roswell an attractive community for arriving new families, retiring Baby Boomers and younger first-time home buyers, supported by substantial retail sector job growth in our community over the last few years.
(Note-The above data is obtained from usually reliable sources, however, Manatt & Company cannot not warrant the accuracy or suitability of the information or analysis herein for any particular purpose.)