The Luxury Market - Where it's Hot and Where it's Not
Luxury homes in Atlanta are available in all of the most sought after areas, but the highest concentration of luxury homes (homes for sale over $1,000,000) are found in Buckhead, Sandy Springs and the areas north of the Chattahoochee River on the east or west side of GA 400. It stands to reason that the closer you get to the city, the higher the concentration of luxury homes will be, but Buckhead and other intown areas do not hold exclusive rights to all of the finest homes available and there are many reasons you might want to look to Sandy Springs, Alpharetta or MIlton (to name a few) if you are in the market for a luxury home. Other areas of note might be Sugarloaf in Gwinnett or Virginia Highland, Ansley Park and Decatur, but those areas are small and therefore not part of this market update.
Buckhead the Bright Spot in the Down Market
Sales and availability of luxury homes in Buckhead have rebounded faster than other areas of the market. Here are the numbers for the numbers through November:
- 228 active listings
- 27 under contract
- 10.5% of listings are under contract
- 20 sales over $3,000,000
That's pretty good for what is supposed to be a soft market especially when compared to the other areas.
Sandy Springs begins where Buckhead ends on the north side of Chastain Park and runs outside of the perimeter essentially to the river, but the highest concentration of high end homes are inside of the perimeter. Here are the numbers:
- 80 active listings
- 10 under contract
- 12.% under contract
- No sales over $3,000,000
Here we see that the percentage of listings under contract is higher than anywhere else including Buckhead, but there are no sales...