The luxury Intown real estate market is about to take off!
Led by a slew of new developments in Midtown and the popularity of living in Intown Atlanta, the luxury condo market is about to become one of the hottest in the nation. As many as two dozen high-end condo developments are planned for availability in 2018 and 2019.
The sale of condominiums priced over $1 million in Intown were listed, on average, for about 3 months before going under contract. Properties priced closer to $1 million are selling much more quickly, often selling in multiple offers and over list price.
2017 MARKET STATS
21 Residences Sold: No Change
$1,395,000 Median Price: Down 4%
3 Months Time on Market: Down 36%
10.38 Months Inventory: Up 5%
2018 Outlook
The vibrant Intown lifestyle is drawing everyone from international investors to professionals to empty-nesters. Due to a burgeoning development environment, discerning buyers of luxury condominium residences have more choices than ever before. Developers are striving to outdo one another with ever more luxurious environments, often with amenities associated with a luxury spa hotel.
We believe that 2018 will be an exciting market for luxury home buyers and sellers. Price should remain stable or slightly increase depending on which new developments properties are completed. The upper end of the market will continue to see more than a year’s worth of inventory, but note that this includes pre-sales in properties under development.
If you will be buying or selling a property in 2018, please contact us to discuss your opportunities in today’s market.