Buckhead (30327) real estate market update: February 2012

The market trend is continuing that we see in the Vinings market into the Buckhead real estate market as well.

Decreasing inventory, average selling price is going up which is good considering the inventory is priced higher than what the buyers are looking for.

We remain steady at a year of inventory in Buckhead.  If this trend continues we’ll be approaching a change in the dynamics of the market. 

I had a conversation with an appraiser yesterday to figure out how we’re going to bridge the gap at what buyers perceive the value at and what the appraisers will appraise for.  His comment is that the homeowners are going to need to take the risk to purchase over appraised value as the banks will not.

So the only way to reverse this trend is for cash buyers to put more cash into the transaction.  We’ll see how this plays out over the next several months.

I’m a half full kind of person, so I hope this positive trend continues despite the national news!

Number of Homes For Sale vs. Sold (Nov. 2010 – Jan. 2012)

Buckhead/Atlanta – 30327

Buckhead_30327_for_sale_vs_sold_real_estate

Average Price of For Sale and Sold (Nov. 2010 – Jan. 2012)

Buckhead/Atlanta – 30327

buckhead_30327_sales_price_list_price_real_estate

Months of Inventory Based on Closed Sales (Nov. 2010 – Jan. 2012)

Buckhead/Atlanta – 30327

Months_of_inventory_buckhead_30327_2012

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