About two out of three Johns Creek home sales closed below the asking price in August, according to Zillow data reported by the North Atlanta Star.
In Johns Creek, where the typical home is valued at $689,664, that share meant most August buyers paid less than the listed price. The home value figure is up just 0.4% from a year earlier, according to Zillow's Home Value Index as of Sept. 30.
The gap between asking and selling prices was modest. The median sale-to-list ratio in Johns Creek sat at 98.6%, meaning the middle transaction closed about 1.4% below list price. Not every buyer got a discount.
About 20.1% of August closings in Johns Creek topped the asking price, the highest share among the three North Atlanta markets examined in the report. Alpharetta came in at 18.6% and Cumming at 12.6%.
Homes in Johns Creek took a median of 49 days to go under contract in September, faster than Alpharetta's 54 days and Cumming's 56 days. That clock measures time to a pending sale, not the full stretch through closing.
Johns Creek's slight year-over-year value gain stood apart from its neighbors. Alpharetta's typical home value of $711,257 dipped 0.3%, while Cumming's $586,393 figure dropped 2.3%.
The local numbers land against a cooling Atlanta metro backdrop. Zillow's September market report, released Oct. 6, estimated metro Atlanta home values fell 1.6% annually. For-sale inventory rose 1.3%, and a preliminary estimate put September sales 11.2% below the prior year.
Zillow's next monthly market report is expected Nov. 5.
