Clients frequently ask me about the current real estate market conditions in metro Atlanta. First quarter 2011 has come and gone, and below are some of the stats in single family home sales from first quarter 2011.
Four of the six counties studied showed an increase or no change in the number of sales from first quarter 2011 over first quarter 2010. While the number of homes sold has increased, the average sales price decreased in all counties except Fulton County, which showed a remarkable 16% increase in average sales price.
Fulton County Real Estate First Quarter 2011

Andrea Cueny sold this home in Alpharetta during first quarter 2011. Alpharetta experienced a 23% increase in the number of homes sold during first quarter 2011 when compared to first quarter 2010.
Average sales price: $293,755
Fulton County also had increases during Q1 2011, in the area of average sales price. The average home sale price in Fulton County for Q1 2011 was $293,755, which was a 16% increase over Q1 2010 and a 57% increase over Q1 2009.
Number of homes sold: 1,497
This represents a decline in the number of homes sold in Fulton County over the same periods in 2010 and 2009.
Narrowing the focus a bit, the stats for North Fulton (FMLS areas 13 and 14) showed no change in the number of homes sold in Q1 2011 at 479, over Q1 2010. The number of homes sold Q1 2009 was 330, so there is a noteworthy 45% increase in number of homes sold in 2011 during the same time period.
Average sales price in North Fulton during Q1 2011 was $352,569, which reflected only a 2% decline during the same time period in 2010.
Digging a little deeper, we look at the stats for single family home sales in Alpharetta for Q1 2011. There were 259 sales, which is a slight decline over Q1 2010, but a whopping 23% increase over Q1 2009.
Meanwhile, the average sales price of homes in Alpharetta was $346,661, representing only 0.75% improvement over Q1 2010.
The most expensive home sold in Fulton County during first quarter 2011 was listed at $3,800,000.
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Forsyth County Real Estate First Quarter 2011
Number of homes sold: 500
Average sales price of homes sold: $233,732
Forsyth County saw a 17% increase in the number of homes sold Q1 2011 over Q1 2010 and a 36% increase during the same period in 2009.
The average sale price of single family homes in Forsyth County declined by double digits from Q1 2011 compared to Q1 2010.
The most expensive home sold in Forsyth County during first quarter 2011 was listed at $1,185,000.
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Cobb County Real Estate First Quarter 2011
Number of homes sold: 1,326
This is an 11% increase over first quarter 2010 and a 20% improvement over first quarter 2009.
Average sales price: $193,815
This number from Q1 2011 shows a decline in the average sales price over the same periods in 2010 and 2009, the idea that the number of units sold has increased could point to old inventory clearing out of the way, and buyers getting a good deal on those homes.

A home located in Smyrna sold by Andrea Cueny of Atlanta Fine Homes Sotheby's International Realty during First Quarter 2011.
I sell a lot of homes in Smyrna/Smynings (zip code 30080) and that area of town also saw an increase in the number of homes sold first quarter 2011 vs. first quarter 2010 (20%) and a 36% increase Q1 2011 vs Q1 2009. The average sales price in Smynings was $234,383, a decrease over Q1 2010 and Q1 2009.
The most expensive home sold in Cobb County during first quarter 2011 was listed at $3,750,000.
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Cherokee County Real Estate First Quarter 2011
Average sales price: $184,717
Number of homes sold: 510
The number of homes sold in Cherokee County during Q1 2011 shows a 3% increase over Q1 2010 and a significant 14% increase over Q1 2009.
The average sales price reflects a 7% decrease over Q1 2010.
The most expensive home sold in Gwinnett County during first quarter 2011 was listed at $813,900.
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Dekalb County Real Estate First Quarter 2011
Average sales price: $159,817
Number of homes sold: 1,049
Both areas of study show a decline for Q1 2011 over the same periods of 2010 and 2009.
The most expensive home sold in Dekalb County during first quarter 2011 was listed at $1,500,000.
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Gwinnett County Real Estate First Quarter 2011
Average sales price: $147,917
Number of homes sold: 1,756
The number of homes sold in Gwinnett County during Q1 2011 shows a 15% increase over Q1 2010 and an 18% increase over Q1 2009.
The average sales price reflects double-digit decreases in percentage over Q1 2010 and Q1 2009.
The most expensive home sold in Gwinnett County during first quarter 2011 was listed at $1,230,000.
Data source: FMLS
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