Housing in Roswell, GA: Latest Trends in the Market
If you're planning to relocate to the greater Atlanta metropolitan area, you may be interested in looking for homes in the affluent suburb of Roswell, Georgia. Roswell is one of the biggest cities in the state, with steady growth and development over the past decade. Home to the high-tech corridor of the Atlanta area, Roswell offers economic growth, safety, and a solid quality of life to its residents, making it an attractive option for anyone seeking to reside near Atlanta.
Are you ready to start looking for housing in Roswell? Here's the most up to date information on Roswell's housing market and mortgage rates.
Inventory Up, Prices Holding Steady
Roswell has shown the highest rates of population growth in Georgia over the past fifteen years. Young people are finding themselves drawn to job offers from the many large employers located in Roswell and nearby Atlanta, such as Kimberly Clark. Roswell is home to many small and home-based businesses as well.
The latest information on housing market trends in Roswell shows a good deal of stability over the past year. Homes are largely holding their value, even as inventory has shown a slight uptick. In the past year, inventory has gone from 469 listings to 479, an increase of two percent, while the median list price of a Roswell home has decreased by only a single percentage point, from $525,000 to $518,800.
The median home size has gone down a little, from 3,426 square feet to 3,298, while the price per square foot has remained fairly stable, going up only three dollars per square foot over the same period, from $159 to $162.
The market for townhomes and condos has been a little more volatile, with inventory, list prices, and price per square foot all on the rise.
Mortgage Rates in Roswell
Mortgages in Roswell – as well as in Georgia, in general – are above the national average right now, as they currently stand at 4.29%. Buyers should look for competitive offers for lending in Roswell, situated in a very hot housing market. Any house hunter with a good credit rating but short on funds for a down payment may wish to investigate programs like the Chenoa Fund, for assistance with a first-time home purchase.
The median length of time it takes for a property to sell in Roswell is 34 days, only one day more than it was a year ago. Roswell currently seems to be a more stable and predictable market than Atlanta proper, where the past year has seen inventory shrinking and home prices rising sharply.
For Atlanta Suburbs, Stable Prices May Not Last
With Roswell continuing to grow strong, by investing in its own development – and with home prices holding steady, during uncertain times in a hot market – buying a home in Roswell represents an opportunity for buyers to plant roots in a stable community, located conveniently close to a booming American city, with plenty of opportunities and dynamic growth potential in the years to come.
Many forecasters predict big increases in home prices in the Atlanta metro area over the next three years, and they believe that homes in the Atlanta area are currently undervalued. If this turns out to be the case, there is no better time than right now to get your foot in the door to a home in the Atlanta suburbs, either as a residence or as an investment property.