The luxury real estate market in Intown Atlanta set new highs in 2017!
The sale of single family homes priced over $1 million increased a dramatic 34% in 2017, for a record 157 sales.
Higher-end new construction, teardowns and custom new-builds, and the sale of beautifully restored historic homes pushed 2017’s median price to a historic $1,295,000. And with homes going under contract in an average of just two months, successful buyers moved quickly and sellers were able to choose from multiple offers.
2017 MARKET STATS
157 Residences Sold: Up 34%
$1,295,000 Median Price: Up 2%
2 Months Time on Market: No Change
11.25 Months Inventory: Up 11%
2018 Outlook
The vibrant Intown lifestyle is drawing everyone from international professionals to empty-nesters and growing families. The Intown area offers so many choices for discerning buyers, from classic estates in Ansley Park to amazing craftsman-style homes in Midtown.
We believe that the high-end Atlanta real estate market will remain competitive for buyers and sellers over the next year and probably beyond. The upper end of the market will continue to see about a year’s worth of inventory of single family homes. We expect the trend of “teardown and new construction” to accelerate in 2017, especially in revitalizing neighborhoods like Old Fourth Ward and Atlantic Station.
If you will be buying or selling a property in 2018, please contact us to discuss your opportunities in today’s market.