Atlanta Foreclosure Statistics for Luxury Neighborhoods
Posted by Brian Sims on Tuesday, March 1st, 2011 at 4:58pm.After hearing that nearly 1 in 3 Atlanta homes is in foreclosure, which by the way is not correct, a concerned buyer asked me last week about the health of the Atlanta market in higher end neighborhoods. The following conversation and statistics we found showed some very encouraging numbers for neighborhoods with average sales above 500K.
In particular, this buyer was interested in the percentage of distressed sales in some of Atlanta's most popular neighborhoods like Vinings. The chart below shows these numbers and how they compare to the Atlanta market as a whole.
At the peak of the foreclosure crisis in 2009, approximately 33% of all Atlanta home sales were distressed. However, neighborhoods like Ansley Park and Chastain Park never had more than 10% distressed sales in any given year, which means these areas remained quite healthy in the midst of a very difficult economy.
The good news for everyone is that only 18% of all 3,825 single family homes for sale in Atlanta today are distressed. While this is still a high number, it has steadily decreased over the course of the past 2 years. Savvy buyers have bought a lot of foreclosures that were on the market and helped reduce this current number as well.
Please give us a call if you are looking to buy a home and we would welcome the opportunity to help you find a great deal. There are amazing neighborhoods with homes for sale today.
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