Atlanta-Sandy Springs-Marietta, GA metropolitan statistical area

Sandy Springs is a part of the Atlanta-Sandy Springs-Marietta, GA metropolitan statistical area. The city is home
to roughly 95,000 and is located directly north of downtown Atlanta. Sandy Springs houses more Fortune 500
companies than downtown Atlanta; large employers include UPS, Newell Rubbermaid, AT&T Mobility, Spectrum
Brands, IBM Internet Security Systems and Porsche Cars North America.

The population grew by roughly 10% over the past decade and median family income levels are now average
over $130,000 per household. The Bureau of Labor Statistics reports an unemployment rate of 9.8% as of March
2011; this is down 0.3 percentage points from the level experienced the year prior. The 9.8% unemployment rate
in the area is above the national average of 9.2%.

The Federal Housing Finance Agency (FHFA) training 12 month price trend indicates home values fell 4.34% as
of Q4 2010. This follows a 3.8% annualized decline as of Q3, an 8.63% decline as of Q2 and a 9.79% decline as
of Q1. Though home values are continuing to fall in the area, they fell at lower rates in the second half of 2010
than they did in the first six months of the year. This is a positive sign that the worst market conditions have been
experienced and the local market is beginning to move towards price stability.

Realty Trac, a leading foreclosure database, is reporting 206 currently foreclosures in the local market. 11% of
the single family housing units are in a state of foreclosure in the Sandy Springs area. This is lower than the 22% rate
recorded in Fulton County and the 21% rate for the state of Georgia. Additionally, Realty Trac reports a median
sale price of $284,059 in the zip code.

Local real estate expert, and Relocation Appraisers and Consultants member, Arnold Schwartz SRA, SCRP of
Arnold M. Schwartz & Associates states “The market in this area has older homes with continued updating that
sell well and those that have not been updated that struggle to sell. Newer construction is in smaller cluster-style
subdivisions, there are several newer developments with $500,000+ properties. The school district helps the
marketability of properties in this area. This is an area is characterized as an older area that doesn’t attract the
“transferee-level” buyer as they tend look for newer construction. There is less activity here than there used to

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