Atlanta Condos For Sale

How’s The Atlanta Real Estate Market?

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How’s The Atlanta Real Estate Market?

atlanta real estateI wanted to share some information regarding the Atlanta real estate market from the recent Case-Shiller Real Estate Report.

The entry-level market has strong demand and very low inventory. There are many multiple offers and values rose faster than other segments. 
The luxury market is a buyer’s market with buyers negotiating better pricing and terms.

Mortgage rates are rising slowly which will impact affordability. Metro Atlanta continues to be very affordable relative to other metro areas around the country.

May pending contracts were up .6% from April and up 8.6% from the prior year. May closings were up 11.7% from April and down 1.3% from the prior year.
Year-to-date pending sales units were up 6.5% versus the prior year. Year-to-date closings were up 2.8% versus the prior year.

The Average Sales Price for May was $322,000 – up 3.2% from April and up 6.6% from last year. 2018 is on track to be the highest annual ASP on record.

Inventory for May was up 5.3% from April and down 8.8% from last year.

Overall Months of Supply for May was 2.4 months. Six months is considered normal. Luxury properties took longer with homes above $1 million averaging 10 months and properties over $2 million averaging 16 months to close. The luxury market remains a buyer’s market in many areas.

The Average List-to-Sale Price Ratio was 97% for all price points. Many properties in high-demand areas are selling above list.

The latest Case-Shiller Index for Atlanta (5/29/18) was up .8% compared to the previous month. Metro Atlanta home values are up 73% from the bottom of March 2012. Increased home values are building equity and getting sellers back into the market.

I always, repeat, ALWAYS tell my clients, whether you are a Buyer or a Seller, that the real estate market will be different for you depending on your real estate plan. Are you looking to refinance? Are you looking to purchase an investment property? We look at your specific real estate needs and goals, and then we talk about the market and what will work best for you. This, coupled with a great lender from our Team Lenders, and we will all work together to make your real estate experience a great one! 

Let’s sit down over coffee (or an adult beverage) and talk about location, location, location…and how important that is in real estate. 

Featured Listing 860 Peachtree Street NE # 1506 Atlanta GA 30308

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Featured Listing 860 Peachtree Street, #1506 Atlanta, GA 30308 (MLS# 5955966)

Spire Midtown has long been a favorite of Midtown Atlanta condo buyers. This building was built in 2005, and quickly sold out since there was limited options available at the time for condo buyers. The building still shines, and here is an excellent opportunity for you to call Spire Midtown HOME!

This one bedroom home features fresh paint throughout along with hardwood flooring in all rooms. (Tile in the bathroom of course!) The spacious kitchen is sure to be the start of the gathering as your guests grab a beverage before heading out to the balcony to take in the Midtown and Downtown Atlanta views! Finished with rich wood cabinetry and granite, there is ample storage and counter space. Stainless appliances including the refrigerator remain! 

Often times, condo living space does not afford room for a dining room table, but Number 1506 will give you space for a table, along with the breakfast bar. There is also a convenient desk nook off the kitchen where additional storage space could be added above. 

Washer and Dryer remain and the condo has a new hot water heater installed. Also a new custom toilet in the bath. 

Spire Midtown features a great fitness center, club room with pool table, fireplace and movie theater as well as a pool. Step out the lobby front door, and you will find Starbucks Reserve just across the street, and restaurants in walking distance, no matter the direction you head! 

Nearby Piedmont Park hosts numerous festivals throughout the year, and of course you are walking distance from the High Museum and Fox Theater! 

To schedule a private showing of this home, contact me! I’m always just a call or click away!

Spire Midtown #1506

 

860 Peachtree Street, NE, #1506 Atlanta, GA 30308 (MLS#5955966)

$269,900.00

Interested in this home? Do you want to schedule a showing?

Just CLICK HERE TO CALL ME! 

 

Listing provided by Palmer House Properties

Learn MORE about Living In Midtown Atlanta HERE!

 

 

 

New Boutique Condo Building Proposed on 12th Street

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New Condo 208 12th Street Midtown AtlantaIt appears 208th 12th Street in Midtown Atlanta may soon be home to a new condominium development. 

What’s Happening Now reports that plans were filed with the City of Atlanta on Wednesday, January 17, 2018. The project remains nameless at this point. A review of the Midtown Alliance DRC meetings back to mid-Sugust, 2016 make no mention of the project, but we would think it had gone through the Committee.

It appears that 208 12th Street will be a boutique building with just 13 homes (expect “boutique to equal pricey!) but will have a small coffee shop/wine bar on the first floor. That would be pretty cool! 

12th Street is no stranger to development. On the map below, the blue/white arrow indicates the location of the under-construction Vireo Apartments, a 308-unit building by Lennar; the other arrow indicates the location of the completed Yoo on the Park . Additionally, you have Piedmont House, and Azure on the Park on the same street. 

We’ll be keeping an eye out for the construction crane…again…on 12th Street! 

New Condo building at 208 12th Street

North American Properties Mark Toro

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North American Properties Mark ToroAtlanta certainly has numerous “movers and shakers” when it comes to real estate development. My good friend Scott Selig, who recently passed, is one of them. Steve Baile, also with Selig Enterprises is another. But one individual that I have always been impressed with is Mark Toro from North American Properties. 

If you’ve not seen Avalon in Alpharetta….hope in the car and go. A development that barely got started, and then the market crashed. North American Properties came in and it’s amazing what is there now. 

Come a little bit closer to “home” and North American Properties successfully repositioned Atlantic Station, and has since sold the retail development to another group. Now, Mark and his team are working to transform Colony Square into the next great Midtown place to be! 

Atlanta Magazine, in 2015, named Mark Toro as one of the “55 Most Influential Atlantans.” 

Additionally, North American Properties has been tapped to develop a mixed-used project around the Infinite Energy Center in Gwinnett County, some 30 miles from Midtown Atlanta. This is a unique public/private project, being built on land Gwinnett County owns. (The parking lots around the Arena will become garages and mixed-use buildings!

Mark is a Midtown Atlanta resident, and serves on the Midtown Alliance’s Executive Committee. 

Bisnow, a business publication recently published an interview with Mark Toro, which you can find HERE.

Thanks Mark, for all that you have done, and are doing for Midtown Atlanta and beyond!

Featured Listing 375 Highland Ave, 507, Atlanta, GA 30312

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Featured Listing 375 Highland Ave, #507 Atlanta, GA 30312

 

Values can still be found in the Midtown Atlanta area! You just have to look as well as know their are other areas close to Peachtree Street! Highland City View Townhomes is a great location and convenient to Midtown Atlanta from the Old Fourth Ward. Ponce City Market is nearby, and Downtown is right there! 

Intown living can be yours with this spacious, sun-filled 2 bedroom townhome. A courtyard patio is perfect for grilling and enjoying the evening!

The kitchen features maple cabinets and  solid surface counters. A breakfast bar overlooks the living room as well as another to the dining room. All appliances remain which is a great savings to the new owner!  The upper level features two en-suite bedrooms and baths.

Hardwood floors grace the living and dining rooms. A tandem 2-car garage offers storage as well as a laundry closet, and the washer/dryer remain. 

The community features a fitness center and pool. 

Highland City View is convenient to Krog Street Market, Ponce City Market, Downtown and Midtown. Additionally you are walking distance to Atlanta Medical Center.

 

To schedule a private showing of this home, contact me! I’m always just a call or click away!

Midtown Atlanta Townhomes For Sale

 

 

 

375 Highland Avenue, #507 Atlanta, GA 30312 (MLS#5946065)

$308,900.00

Interested in this home? Do you want to schedule a showing?

Just CLICK HERE TO CALL ME! 

 

 

Listing provided by Palmer House Properties

Learn MORE about Living In Midtown Atlanta HERE!

 

 

 

Four Housing Predictions for 2018

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Predictions for Housing in 2018Hey, it’s a New Year, right? And with it comes all kinds of predictions. Now some of them may be personal in nature, like I predict I will make the change in my routine to get to the gym more often. 

Of course, those predictions don’t matter to you! But Four Housing Predictions for 2018 just might. 

A recent article from HousingWire cites low inventory and rising home prices along with some other factors. The four predictions are:

  • The historically tight supply of single-family homes will tighten further in 2018 after hitting a record low in November 2017
  • The national home price boom that began in mid-2012, will continue, and given the unprecedented low levels of inventory, will even accelerate further
  • First-time buyers will face even higher home price gains for entry level homes
  •  First-time buyers will continue take on even more leverage in an effort to keep up with the out-sized home price gains on entry level homes

Now first of, remember that real estate is local, local, local. So what is happening in Minneapolis may not be the same as Midtown Atlanta, nor would what’s happening in Cumming be the same as College Park. But experience does tell us that most of these are probably on track. There is a difference amongst professionals about how fast home prices will increase in the next year. Some say faster in 2018, and others say it will slow down. 

Certainly in the Atlanta market, we can cite low inventory, a low days on market, and a challenge for first-time buyers to find a condo (In Midtown/Buckhead areas) or home they can afford. Prices certainly have gone up although not as dramatic as they have been. But I have seen homes realize appreciation like this:

Housing Predictions 2018

If you are looking to buy or sell, whether in 1 month or 1 year, sit down with a real estate professional, like myself, and talk about the market, your plans, what you are looking for and be more informed as to what your options may be. Understand, things can change in a year, but at least you have some ideas. 

For the details about the Four Housing Predictions for 2018, read the rest of the article HERE

Thom Abbott

Associate Broker, REALTOR(R)
905 Juniper Street, NE Suite 110
Atlanta, Georgia 30309
770.713.1505 Direct
404.876.4901 Office

 
 
 
 
 
 
 
 
 
 

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