The Atlanta average home sales price continues to hit all-time highs as we move through fall. However, the number of home sales is still well below the peak in 2006 (-25%) and has been declining for more than two years. However, things appear to be turning around. Through the end of October, there were 350 more homes closed in 2014 than 2013. If that margin holds, then 2014 will be the first year in three years with more closings than the previous year. Rising housing inventory is helping to restore balance in the market and should fuel continued sales growth. In this issue of The Beacham Insider, we look at Atlanta’s four most priciest neighborhoods. All of them have average sales prices of more than $1 million. We also take note of a fast-moving trend in condo sales that bodes well for future condo development and apartment conversions.
