Milton Insider: Volume 2, Issue 3

MILTON

INSIDER

As we enter the second half of 2023, I have a sense of optimism. I feel this is our last window before next spring, where sellers are a little uncertain, and buyers can take advantage of that uncertainty. Come spring of 2024, I believe things will be in full swing again with a more normal yearly increase in values of 5-7%. For the last two years, the spring market has started February 1 versus March and April of prior years. 30004 is still very sought after, with Buckhead and Brookhaven families coming to Milton and some great relocation buying. This year, we see relocation mainly coming from Florida, California and Texas, where years prior, there were those three states as well as the Midwest and New York. In 2023, there has been a new pop of higher profile buyers and CEOs looking in the area, which has helped the $3-$10M market. Some families from 30004 are heading closer to Canton for better values, taxes and more land. Equestrian buyers are also looking to Canton, with lower inventory in Milton and the higher 30004 land pricing in recent years.

In this issue, you’ll see design trends highlighted that we are seeing and loving in our market. We are also seeing a rise in new construction. We advise our builders to wait until the cabinet and landscape phases to list and obtain optimal value, as this has historically been a good plan for builders in timing. Unless buyers need funds on the front end to facilitate build costs, waiting is easier for the builder and brings a higher net. Land is interesting to get a read on right now – it is in very high demand, but people will not overpay unless there are 1-8 perfectly set acres for them to build a custom “forever home.” Large tracts continue to sit if priced high, with many landowners hoping a developer will come in and pay above top dollar. The city is doing all that it can to try to keep the green spaces and keep Milton with that Milton feel that we all fell in love with. The City of Milton cares deeply about this, and rightfully so.

2021 will always be a look back on a snapshot in time when the market was insane, and people did crazy things to get homes. Now, 2023 is back to a much more normalized market with pre-pandemic steady growth numbers. We look ahead brightly to 2024 and see positive things on the horizon. We are all so blessed to live in this amazing city. Excited about all things fall here, from tailgates to pumpkin patches!

Sincerely,

Market Stats | 30004

Average Sales Price

Months Supply of Homes for Sale

For a more comprehensive market perspective of Milton, please scan here.

Source: FMLS, 8.15.23

Mortgage Update

The Mortgage Bankers Association predicts a decline in inflation and expects an improvement in the rate environment. Their forecasted projections indicate that interest rates will decrease by 1% in 2024, followed by an additional 2% reduction in 2025.

- Brant E. Gilmore Vice President, Truist Bank

What experts are saying ...

Current Mortgage Rate

“Housing is not going down in value. Things go up or down in value based on simple supply-demand economics. We have a shortage of housing and not an oversupply. The growth of home prices is slowing down. But the bottom line: We still have too many buyers chasing too few houses.”

-Dave Ramsey

“As of last month, the cumulative increase in prices, on average across Atlanta since 2019, was 47%, according to Trendgraphix and data internal to Atlanta Fine Homes Sotheby’s International Realty ... Take the last 12 months, for example; over this period, home values are still up by 13%, per Trendgraphix and internal data. While the absolute number of homes is down a bit, values are not.”

-David Boehmig, CEO, President and Founder Atlanta Fine Homes Sotheby’s International Realty

“The resilience of the U.S. economy this year, despite the most aggressive Fed tightening cycle in decades, has forced many on Wall Street to repeatedly revise their forecasts for when the country will fall into recession.”

-Reade Pickert and Swati Pandey, Yahoo! Finance

“The AEI Housing Center recently announced a significant upward revision to its housing market outlook, as it expects U.S. home price growth to heat back up. It now expects a 6% increase in U.S. home prices for 2023, followed by a 7% surge in 2024.”

-Lance Lambert, Fortune

NMLSR #756279

Best Nearby Rooftops & Patios to Wine & Dine

Offering California-inspired cuisine, TBB 122 is a community-focused full-service cafe and restaurant serving Alpharetta artisan goods and delicious, healthful meals prepared using local ingredients. Sit underneath the 150-year-old oak tree surrounded by organically grown herbs and veggies.

Rumi’s Kitchen is the premiere location for Persian Cuisine, where fresh, healthy food, attentive Persian hospitality and an atmosphere filled with love await you. Dine inside or outside under the pergola while watching shoppers stroll the streets of Avalon.

Enjoy pizza, calzones, wings, an ever-changing assortment of craft and imported beers and live music at this friendly Historic Roswell bar. The Standard at Roswell is a great place to enjoy all of this, and the crowds that gather here will tell you the same. The Standard offers indoor and outdoor dining with a casual atmosphere. Enjoy lunch, dinner or a little nightlife at one of Downtown Roswell’s most popular spots.

TBB 122 122 MARIETTA STREET ALPHARETTA, GEORGIA 30009

Rumi’s Kitchen 7105 AVALON BOULEVARD ALPHARETTA, GEORGIA 30009

Citizen Soul is an upscale, casual neighborhood eatery serving modern American pub fare while specializing in artisanal cocktails, fine wine and craft beer. The beverage program includes eclectic cocktails, 20 craft beers on tap and fine wine primarily sourced from domestic producers.

Open seven days a week, guests can dine outside on the rooftop patio featuring views of the entire boulevard or inside The Cape’s main dining room. The Cape’s all-day menu highlights the bold and global flavors and spices that are synonymous with South African cuisine.

Located in the city center of Alpharetta, Jekyll Brewing offers live music, brewery tours and an incredible rooftop terrace with a unique Airstream trailer built right into the side of the building. Recognized as one of the leading craft breweries in the Southeast, enjoy handcrafted beer and seltzers year round.

VIN25 was founded with the desire to offer an intimate, friendly neighborhood wine bar with a fun and approachable menu. A place where our guests can relax after work, celebrate an anniversary or just enjoy a great meal and a hand-selected glass of wine.

Vin25

25 PLUM TREE STREET ROSWELL, GEORGIA 30075

Citizen Soul

60 SOUTH MAIN STREET ALPHARETTA, GEORGIA 30009

Jekyll Brewing

15 ACADEMY STREET, SUITE 1E ALPHARETTA, GEORGIA 30009

The Cape Restaurant & Beach Bar

700 AVALON BOULEVARD ALPHARETTA, GEORGIA 30009

683 Duck Thurmond Road

DAWSONVILLE, GEORGIA 30534

Situated on 70± stunning acres in the heart of Dawsonville, this one-of-akind equestrian property impresses with rolling pastures, three barns with 16 stalls, an oversized arena, a round pen, a pool, a large guest house and a fantastic main house. Completely private and bordering a lake and a creek, enjoy the outdoors along the endless trails and pastureland.

7 BR • 7.5 BA • 70± ACRES

Offered for $3,850,000

DESIGN TRENDS

THE COLOR BLACK

Black has made its way in over the past one-to-two years via cocktail rooms and cabinetry, but now we see full black rooms from cabinets to walls, wood accents and trim. We are especially seeing this trend in modern. The furniture, art and lighting become the color pops, as well as large glass doors and windows with outdoor views. Jenny is looking for land now to build a home in this exact style.

SCULLERIES/BACK KITCHENS

These are in high demand for those who like to entertain and/or want a minimalist, clean-line design for the kitchen.

WARM WOOD TONES

Warm wood tones are being seen all over and crossing all design styles. This trend ranges from flooring to accent walls, cabinetry and even furniture.

BIG PRINT WALLPAPER AND MURAL

Whether a powder room or a living room, bold wallpaper creates visual interest and can liven up any space.

ELABORATE OUTDOOR SPACES

Entertaining still is top of mind, with on-grade yards being at the top of our client wish lists. We are seeing our clients loving electronic screens, pools of all styles, pavers that do not get hot (peacock pavers rice color is a great one!), pizza ovens, large outdoor fans, pool houses with fun features, putting greens and even pickleball courts.

FALL FUN

Apple Picking

ORCHARDS IN NORTH GEORGIA

PEAK PICKING

September 1 - 15

Golden Delicious and September Wonder Fuji

September 15 - 30

Rome Beauty, SunCrisp, Jonagold, Mutsu and Cameo

September 30 - October 15

Pritchett Golden, Stayman Winesap and Granny Smith

Fairs

Gwinnett County Fair | September 14-24

Lawrenceville | gwinnettcountyfair.com

North Georgia State Fair | September 21 - October 1

Marietta | northgeorgiastatefair.com

Georgia State Fair | September 29 - October 8

Hampton | georgiastatefair.com

Cumming Country Fair & Festival | October 5-15

Cumming | cummingfair.squarespace.com

B. J. Reece Orchards

Ellijay | reeceorchards.com

Hillcrest Orchards

Ellijay | hillcrestorchards.net

Jaemor Farms

Alto | jaemorfarms.com

Mercier Orchards

Blue Ridge | mercier-orchards.com

R & A Orchards

Ellijay | randorchards.com

Red Apple Barn

Ellijay | redapplebarn.com

The Folk Collaborative

McCaysville | thefolkcollaborative.com

Fausett Farms Sunflowers

Dawsonville | fausettfarmssunflowers.com

Sunflower Field Haunted Scavenger Hunt

Oakland Cemetery

Atlanta | oaklandcemetery.com

Roadside Attraction

Goats on the Roof

Tiger | goats-on-the-roof.com

From apple orchards to pumpkin patches, here are just a few of the fabulous fall activities happening outside the metro Atlanta area.

Pumpkin Picking

Big Springs Farms

Woodstock | bigspringsfarms.net

Burt’s Farm

Dawsonville | burtspumpkinfarmgeorgia.com

Kinsey Family Farm

Gainesville | kinseyfamilyfarm.com

Corn Mazes

Buford Corn Maze

Buford | bufordcornmaze.com

Cagle’s Farm

Holly Springs | caglesfarm.com

Copper Creek Farm

Calhoun | coppercreekfarm.com

Mitcham Farm

Oxford | mitchamfarm.com

Scottsdale Farms

Milton | scottsdalefarms.com

Sleepy Hollow Farm Powder Springs | sleepyhollowtrees.com

Southern Belle Farm McDonough | southernbellefarm.com

Uncle Shuck’s Corn Maze & Pumpkin Patch Dawsonville | uncleshucks.com

Warbington Farms

Cumming | warbingtonfarms.com

Washington Farms Bogart | washingtonfarms.net

Yahoo Farm Jasper | yahoofarm.com

Sleepy Hollow Farm Powder Springs | sleepyhollowtrees.com

Southern Belle Farm McDonough | southernbellefarm.com

Uncle Shuck’s Corn Maze & Pumpkin Patch Dawsonville | uncleshucks.com

Washington Farms Bogart | washingtonfarms.net

NEARBY PUMPKIN PATCHES

EVENTS AROUND MILTON

16 LiveLOUD Concert

6 p.m. - 10 p.m., Saturday

The Green at Crabapple Market

Little Acorns Kids Club

2

Milton Farmers Market

8 a.m. - 12:30 p.m., Saturdays

Recurring through October

Milton City Hall

Alpharetta Farmers Market

8:30 a.m. - 12:30 p.m., Saturdays

Recurring through November

Town Green at City Center, Alpharetta

Yoga on The Green

9 a.m. - 10 a.m., Saturdays, Recurring

The Green at Crabapple Market

19

10 a.m. - 12 p.m., Tuesdays

Recurring Bi-weekly Avalon, Alpharetta

20

21

Picnic on The Green

6 p.m. - 8 p.m., Wednesday

The Green at Crabapple Market

Noon to Night Fashion Benefit

6 p.m. - 9 p.m., Thursday Avalon, Alpharetta

October

Cornhole ATL

5

6:30 p.m. - 9 p.m., Tuesdays

Recurring through October 17

Avalon, Alpharetta

Little Acorns Kids Club

10 a.m. - 12 p.m., Tuesdays

Recurring Bi-weekly

Avalon, Alpharetta

Punchline Comedy Night at Avalon

7:30 p.m. - 9 p.m., Tuesday

Avalon, Alpharetta

7:30 p.m. - 9 p.m., Monday

Avalon, Alpharetta 3

Little Acorns Kids Club

10 a.m. - 12 p.m., Tuesdays

Recurring Bi-weekly

Avalon, Alpharetta

7 Crabapple Fest 10 a.m. - 5 p.m., Saturday

Crabapple Road in Downtown Milton Kid Biz Expo

11 a.m. - 3 p.m., Saturday

The Green at Crabapple Market

Walk-N-Roll

5:30 p.m. - 8 p.m., Saturday

Avalon, Alpharetta

9

Punchline Comedy Night on The Green

7:30 p.m. - 9 p.m., Monday

The Green at Crabapple Market

Shop, Sip & Stroll

5 p.m. - 8 p.m., Friday

The Green at Crabapple Market

Wire & Wood Alpharetta Music Festival

5 p.m. - 11 p.m., Friday Downtown Alpharetta

14

Wire & Wood Alpharetta Music Festival

5 p.m. - 11 p.m., Saturday

Downtown Alpharetta

Movie on The Green

6 p.m. - 8 p.m., Saturday

The Green at Crabapple Market

All In at Avalon

Swanky soiree with casino games and a live DJ

Avalon, Alpharetta

17

Little Acorns Kids Club

10 a.m. - 12 p.m., Tuesdays

Recurring Bi-weekly

Avalon, Alpharetta

18

21

22

27

Picnic on The Green

6 p.m. - 8 p.m., Wednesday

The Green at Crabapple Market

LiveLOUD Concert

6 p.m. - 10 p.m., Saturday

The Green at Crabapple Market

Carvin’ in Crabapple

2 p.m. - 5 p.m., Sunday

Broadwell Pavilion, 12615 Broadwell Road

Trick-or-Drink

28

18

19

Downtown Alpharetta Tree Lighting

5:00 p.m. – 9:00 p.m., Saturday

Downtown Alpharetta

The Lighting of Avalon

Avalon, Alpharetta

Ice Skating at Avalon

Daily through January 16

Avalon, Alpharetta

20

24

Santa at Avalon

Daily through December 24

Avalon, Alpharetta

Black Friday at Avalon

Avalon, Alpharetta

2

Christmas in Crabapple & Milton Tree Lighting

2 p.m. - 6 p.m., Saturday

Broadwell Pavilion, 12615 Broadwell Road

9

Halloween Tailgating | GA vs. FL Viewing Party

2 p.m. - 8 p.m., Saturday

The Green at Crabapple Market

Trick-or-Treating

Avalon, Alpharetta

10

Grace on The Green

Adult-only supernatural moonlit fun with specialty cocktails and a live DJ Avalon, Alpharetta 3

7 p.m. - 9 p.m., Friday

The Green at Crabapple Market

Holiday Shop, Sip & Stroll

5 p.m. - 8 p.m., Friday

The Green at Crabapple Market

31

Milton Fire Department Pancake Breakfast with Santa

8 a.m. - 10 a.m., Saturday

Fire Station 44, 13690 Highway 9

Breakfast with Santa

Avalon, Alpharetta

Breakfast with Santa

Avalon, Alpharetta

Menorah Lighting

Avalon, Alpharetta

Noon Year’s Eve

Party-goers of all ages are invited to ring in the new year with live music, face painting, crafts and a giant balloon drop at noon

The Hotel at Avalon, Alpharetta