Ramping unemployment and mortgage rates will reduce the price of homes going forward.
Did I mention that Fulton Co. has exorbitant tax rates?
In all reality, new home prices, particularly in brand new neighborhoods may tend to vary more than home prices in established neighborhoods.
Established neighborhoods that have been built out have a history of comps.
Model-A with the basement and bonus room in neighborhood X goes for $300,000 +/-
Model-B with no basement goes for $240,000 +/-
That is because over the past year 3 model-A's sold in that neighborhood for about $300,000 and 4 model-Bs sold for about $240,000
In a new neighborhood, the prices are set by the builder/developer. The history of comps is not typically there, so if they get lots of orders in short order, they may choose to increase the price. If nobody is purchasing them, they may lower the prices. They have greater flexibility in pricing because they are dealing with more volume.
Alpharetta really hasn't seen much depreciation at all, and should continue to be a metro Atlanta leader in appreciation for years to come. Only parts of Buckhead and Altanta perform better.