ATLANTA – The Atlanta luxury home market remained strong in June despite a significant overall drop in metro Atlanta home sales.
Sales of Atlanta area homes priced $1 million or more were off by just one sale from June 2006, while the overall market was down a record 30.5 percent.
More significantly, the percentage of all Atlanta home sales that were $1 million or more increased a staggering 42.6 percent from a year ago.
The share of homes sold for $1 million or more in metro Atlanta is now more than 11 percent, nearly double what it was a year ago (6.6 percent).
According to Dac Carver, Executive Vice President and Managing Broker of Beacham & Company, REALTORS®, an Atlanta real estate firm specializing in luxury real estate, June was the best sales volume month ever for the seven month-old company.
“And July should easily top June,” Carver said. “It’s really incredible, especially given the overall number of homes for sale on the market. The key difference with us, and the reason we are finding buyers in this market, is that we are a firm that specializes in offering only the best properties in the most desirable places to live in the Atlanta market.”
“It’s a formula that has worked for our founder, Glennis Beacham, for 25 years and our agents have embraced it.”
Some skeptics have theorized that the reason the number of closings in the $1 million-plus price range is holding steady is because of price appreciation. But the average sales price for homes priced $1 million or more actually declined in May and was up only 1.3 percent in June while the average sales price for all Atlanta homes for sale rocketed to a record $292,245, a $28,000 increase (10.6 percent) over the previous all-time monthly record of $264,526 set in August 2006.
The average sales price for $1 million and up properties in Atlanta was $1.53 million in June, up from $1.51 million a year ago.
Beacham & Company, REALTORS® is a full-service real estate company specializing in luxury real estate. The company was founded in 2006 by Glennis Beacham, one of Atlanta’s most prolific real estate agents over the last 15 years. For more information about Beacham & Company, REALTORS®, go to beacham.com or call 404.261.6300.
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