Buckhead: Stylish, sophisticated and booming!
Buckhead is regarded as one of Atlanta’s most prestigious and desirable areas. Due to a burgeoning development environment, discerning buyers of upscale condominium residences in Buckhead have more choices than ever before. Developers are striving to outdo one another with ever more luxurious amenities and services.
The luxury real estate market in Buckhead broke records in 2017. The sale of properties priced over $1 million increased by a whopping 49% in 2017, to a record of 61 sales. Buckhead luxury condominiums were listed on average for about 17 months before going under contract, a decrease of 66% from an average of 26 months in 2016.
2017 MARKET STATS
61 Residences Sold: Up 49%
$1,350,000 Median Price: Down 20%
3 Months Time on Market: Up 41%
17 Months Inventory: Down 66%
Home to some of Atlanta’s most prominent residents, and surrounded by upscale shopping, fine dining and luxury hotels, it is easy to see why Buckhead is a much desired area.
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.