The first quarter of 2022 shows home prices are still on the rise in Sandy Springs. Not only has the average home sale price increased since last quarter of 2021, but Q1 2022 saw the highest single family home sale price ever! The multi-family market tells a similar story with a rise in average sale price.
While this illustrates that Sandy Springs remains a strong and popular destination for buyers, we are curious to see if the sharply escalating mortgage rates may slow these rising prices or if supply will tighten further perpetuating a great market for sellers.
170 Single family homes changed hands in Sandy Springs during the forst quarter of 2022. Prices ranged from $387,000 up to $9.35 million for a 15,000 square foot home on Northside Drive. The average home sale was $1,072,135 for around 4,000 square feet.
The Condominium market in Sandy Springs is still going strong. There were 216 condo sales recorded during the first quarter. Prices started at $109,000, and went up to $975,000. The average Sandy Springs condo is $318,000 for around 1,400 square feet, and the top ten sales were all over $700,000.