Buckhead Real Estate Market Analysis
Posted by Ben Hirsh on Thursday, June 10th, 2010 at 3:33pm.
The average home-buyer has become much more interested in the fine details of the real estate market over the past few years. I often get questions from my clients about the "current absorption rate" and other statistical data that no clients thought to ask about a few years ago.
This increase in consumer knowledge is a great thing, and I have prepared a detailed market study for the Buckhead real estate market below:
Buckhead Single Family Homes:
During the first five months of the year in 2009, we saw 267 homes sold in Buckhead. This ended up being 31% of the total to be sold that year.
As shown on the chart below, 346 homes have traded hands during the first five months of 2010. If the same consumer pattern holds true this year, then that means that we can expect 1116 homes to sell in the Buckhead area this year. This would represent a significant increase of 2009.
Buckhead Real Estate Stats |
|||||||
| Sold in May | Sold in First Five Months of 2010 | Months of Supply at Current Absorption | Asking Price | Average Sale Price YTD | Days on Market | ||
| Buckhead Single Family Homes |
99 |
346 | 15.5 Months | $752,868 | $683,123 | 103 | |
| Buckhead Condos/Townhomes | 73 | 345 | 12.7 Months | $ 258,362 | $ 237,605 | 108 | |
Buckhead Condos and Townhomes: 345 Condos have sold in Buckhead so far this year, which is an excellent number considering that there are less than 1300 actually for sale! This is a significant increase over 290 sales during the same period last year, and average prices also have increased by 11.7% to $237,605. Much of this activity might be attributed to the first-time home-buyer tax credit, but overall it appears that the bottom may be behind us! If the same monthly percentages from 2009 hold true for this year, then there would be exactly 1000 condos sold in Buckhead during 2010. Call me to discuss your specific situation. Whether you are buying or selling in Buckhead, I would be pleased to represent you. Ben Hirsh Hirsh Real Estate Group Office: 404-492-9000 Fax:1-866-834-7641 Email: Ben@benhirsh.com www.BuckheadGaRealEstate.com
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