Midtown Atlanta Market Report | 1010 Midtown | Year End 2013
Considering that 1010 was the only “new construction” building left to buy in Midtown Atlanta, you could say the deck was stacked in their favor! When the market took a nose-dive in 2008-2009, the developers of this building had the deep pockets to just sit on their inventory….and wait. They made only slight reductions in the prices, but otherwise, they just took the “we’ll wait for the rebound” attitude. So, when the market DID rebound in 2012 and 2013, there was but one building to go to for a condo in Midtown if you wanted it brand new.
Needless to say, it is going to be really interesting in 2014 to see who comes out on top, considering the building is now sold out!
But let’s take a look at the sales in 1010 Midtown Atlanta:
In 2013, this building topped the list with 73…yes, SEVENTY-THREE homes sold! This compares to 46 sold in 2012 (it was the #1 for 2012 as well) and 27 in 2011.
- 27 One Bedroom homes sold with an average sales price of $256,997. The Average Sold Price in 2012 was $214,590.
- 39 Two Bedroom homes sold with an average sales price of $507,387. The Average Sold Price in 2012 was $383,615. Are you not wishing NOW you would of bought here in 2012!
- 7 Three Bedroom homes sold with an average sales price of $970,571. They ranged in price from $515,000 to $1.3 million. We did not track 3 bedroom sales in 2012.
1010 Midtown is the center of the 12th & Midtown development. There is the new 77 12th apartment building located behind the building at the corner of Crescent Avenue and 12th Streets. Across Peachtree Street is the Loews’ Atlanta Hotel, and 1075 Peachtree, the office building.
The developers have announced another apartment building next to 7712th at 11th and Crescent Avenue. And, another building is proposed for their now vacant lot at Peachtree, between 12th and 13th Streets. It is calling for 50 stories and will be a combination of apartments and condos. We’ve heard selling prices will start at $800,000! Yikes!