Posts Tagged buckhead real estate
February 2014 Market Update
Posted by thunsicker in Uncategorized on March 27, 2014
Click the video below for the latest real estate market upate for the Vinings area. You may also view additional video reports for many of our local markets. I’ve included links directly to the Buckhead update as well as the Smyrna update.
Please contact me with any questions regarding your real estate needs. As part of Berkshire Hathaway Home Services, I have access to proprietary information resources that are not available to the public and can help you understand the real facts in your area.
Better information leads to better decisions!
Justin Bieber is home shopping in Atlanta
Posted by thunsicker in Atlanta Real Estate, Buckhead, Famous People in Atlanta on February 19, 2014
UPDATE 2/24/2014 Bieber tweeted that he never even looked at this home. There was even a stunt by morning DJ’s that has been published to make fun of the whole thing. Anyway, he’s here in a rental but this is NOT going to be his house. Great publicity for the agent and great exposure for the house is all that really came out of the rumor.
Atlanta is home to many celebrities, and it looks like another one might be heading our way.
Justin Bieber has been looking to make Atlanta his home so he can be closer to the thriving hip hop community. According to TMZ, he has his eye on a sprawling estate off Blackland Road in Buckhead. Listed at $10,950,000, this 16,000 sq. ft., 7 bedroom/13 bathroom home has a lot to offer from energy efficient geothermal HVAC systems to a 70 foot pool/spa, gym, elevator and much, much more.
It is yet to be seen whether he really is interested or if this is just a way to generate interest in this property. According to his published interests – can’t be visible from the street (preferably secluded on 5+ acres), minimum of 10,000+ sq. ft., and lists for between $4 and $10 mil., this may not be the home for him. While the price and size may suit him, we’ll have to see whether he will settle for less acreage; the lot is listed at less than two acres.
Photo credit: Zillow.com
Happy New Year!
Posted by thunsicker in Uncategorized on January 8, 2014
Whew! December was quite a busy month! For some reason, December has always been a good month work-wise, and this year was no exception. Of course, with a young child, there is a lot to do to prepare for Christmas. And if both of those things weren’t enough, on the 10th we converted from Prudential to Berkshire Hathaway Home Services!
Here is a nice article about the conversion from the Atlanta Business Chronicle:
Prudential set to become Berkshire Hathaway
by Douglas SamsCommercial Real Estate Editor- Atlanta Business ChronicleAtlanta’s largest residential real estate company plans to make a bold move into the ultra-competitive luxury home market.
The push comes almost eight months after Prudential Georgia Realty, probably known best for new home sales in suburban Atlanta markets, was acquired by Berkshire Hathaway Inc. (NYSE: BRK-A, BRK-B) affiliate HomeServices of America Inc.
Now we’re on to 2014 and have new listings that will be popping up soon. I’ll be posting some in the days to come, but for now, we are hoping your year is off to a great start and you are staying warm!
October Market Update
Posted by thunsicker in Atlanta Real Estate on November 19, 2013
Here are the Prudential Market Updates for Buckhead and Vinings in the month of October:
Sales in Buckhead have dropped month over month and year over year. I believe this is primarily due to decreased inventory, but it is also a seasonal adjustment. As a result with 6 years of inventory available, sales are slowing and inventory is climbing in the the over $2M market.
October Market Update – Buckhead
Vinings remained steady with a much higher increase in sales price. I believe that is primarily due to the higher end homes (at and over $1M) moving again at a great pace. Many of those homes had been on the market for quite a while, but with no new inventory coming on the market, I believe buyers finally picked from what existed versus continuing to wait and hope for what they wanted to come on the market. We had a great flurry of the newer high end homes sell this spring and finally this fall the remodeled high end homes have gone under contract. That could partially be due to the sellers compromising further in price as well.
October Market Update – Vinings
I’m including more specific Vinings data from another source as well that I find to be interesting.
Under $800k
| Location: | ZIP 30339 |
| Price Range: | $0 – $799,999 |
| SQFT Range: | 0 – No Limit |
| Property Types: | Residential Detached – All Properties – All Properties |
| Bedrooms: | 0 – No Limit |
| Full Baths: | 0 – No Limit |
| Half Baths: | 0 – No Limit |
| Year Built: | 0 – No Limit |
Look at the balancing of inventory to demand that has taken place over the past year in Vinings under $800,000. Inventory has steadily declined and transactions have increased. This is great news as well. It shows us that homes in 30339 that are priced right will sell.
$800k and Up
| Location: | ZIP 30339 |
| Price Range: | $800,000 – No Limit |
| SQFT Range: | 0 – No Limit |
| Property Types: | Residential Detached – All Properties – All Properties |
| Bedrooms: | 0 – No Limit |
| Full Baths: | 0 – No Limit |
| Half Baths: | 0 – No Limit |
Notice the volume of sales in April (which were newer construction over $1M) and then last month. I’ve pulled this over the past 2 years to show you the significance in the volume change. There has been pent up demand for the higher end homes, but the remodels weren’t selling this spring and then, as of last month, they are moving. This definitely sends us a message that buyers want Vinings enough to compromise or set their expectations a bit higher on price points. This is great news for us and also indicates a need for high end homes on the market in Vinings again.
As always, let me know if you might be interested in selling as I have buyers that are still looking!
September Market Update – Vinings, Buckhead and Smyrna
Posted by thunsicker in Buckhead, Data and Statistics, State of Real Estate Market, Vinings on October 17, 2013
Generally, Vinings is its own unique market. Our sales in September remained the same as a year ago and down 44% from last month, while inventories went up slightly. Days on Market went way down. I believe is because many buyers are patiently waiting for the right house to pop up, and when it does, they grab it. If you don’t get your buyer in the first couple of weeks, it may be on market a while as the inventory has remained somewhat stable or slightly higher in Vinings. We don’t seem to have the shortage of supply that Buckhead has, but our area is so much smaller that the right house at the right price can be hard to find.
September Market Update – Vinings
And on to the Buckhead market: We didn’t see a big change from September to October, but year to year the news is still good. Days on Market is down 31% from last year and available listings are down 28%. Compared to the previous month, sales in September were down, but can be expected at this time of year. We are seeing the return of the trade-up buyer. Confidence in their ability to sell their current home is again allowing buyers to take that step to a bigger home. This is a change in the “downsizing” trend we saw while the economy was down. There is still a 4 year Inventory over $2M, so that market is still slow, but the $1M-$2M market is better than it has been.
September Market Update – Buckhead
Even though my blog is titled Real Vinings Buckhead, I’ve decided to add information on Smyrna as well. I’ve sold so many homes there recently and currently have several available listings there. It’s always interesting to me how different all three of these markets are. Buckhead, by definition, is a much larger geographic area and has many more high priced homes. Because of this, its numbers are highly affected by the luxury homes market and the more “average” homes – which happen to range around $600,000 – still fly off the market. In Vinings (30339,) the homes average closer to the $500,000 range with two lots selling at that price in the past month as well. Existing inventory is primarily the original 1960’s homes (both original and remodeled) and newer construction that ranges well over $1M.
The Smyrna market, on the other hand, was much more affordable with the average over the past year being around $300,000. This year we are seeing the higher priced homes in Smyrna coming back on the market and selling. Because of this, the affordably priced homes are eaten up and the higher priced homes are driving the price point up causing a drop in the volume of transactions. I’ve seen homes in the $500,000 range get snatched up over the past few months, where a year ago I could count on one hand the number of homes in Smyrna that sold over $500,000. I should add that these reports are for 30080 Smyrna, and not Mableton per se. The statistics back me up with the sales in Smyrna being down 14% year over year and down 26% month to month. As always, please contact me with any questions you have about buying or selling your home.
September Market Update – Smyrna
Buckhead (30327) real estate market update: June 2012
Posted by thunsicker in Buckhead, Data and Statistics, State of Real Estate Market on July 25, 2012
The market trend is continuing that we see in the Vinings market into the Buckhead real estate market as well. Decreasing inventory and rising sales with the average selling price going up!
Within the $200,000 to $650,000 price point, sales have been steadily increasing and we’re in multiple offer situations quite frequently. Inventory is trending downward again with sales continuing up. Good news for all!
The stats are slightly improved in 30327 from $400,000 and up and it looks like inventory and sales increased slightly. Year over year numbers show improvements, but I think this could vary with an analysis of a tighter price point.
Finally I had a fellow agent say to me the other day that she thought luxury sales were up. I think we’re seeing things under $2,000,000 continue to sell well, but over $2M it still remains soft. Inventory remains high and prices continue to soften within the luxury market. Of course, this pie can be sliced in various ways, but I just wanted to pull data a few different ways to see if what I feel in the market is what is happening statistically. If you’d like me to pull some data specific to your price point and area, just email me and I’ll do a custom report for you.
Number of Homes For Sale vs. Sold (Apr. 2011 – Jun. 2012)
Buckhead/Atlanta – 30327
Price Point – $200,000 to $650,000
Number of Homes For Sale vs. Sold (Apr. 2011 – Jun. 2012)
Buckhead/Atlanta – 30327
Price Point – $400,000 and up
Number of Homes For Sale vs. Sold (Apr. 2011 – Jun. 2012)
Buckhead/Atlanta – 30327
Price Point – $2,000,000 and up
Buckhead (30327) real estate market update: February 2012
Posted by thunsicker in Buckhead, Data and Statistics, State of Real Estate Market on February 16, 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
Average Price of For Sale and Sold (Nov. 2010 – Jan. 2012)
Buckhead/Atlanta – 30327
Months of Inventory Based on Closed Sales (Nov. 2010 – Jan. 2012)
Buckhead/Atlanta – 30327
Kenny Rogers’ Buckhead (Atlanta) Home Sold
Posted by thunsicker in Buckhead, Famous People in Atlanta, State of Real Estate Market on September 13, 2011
I usually just email my close friends with these types of things, but I think this is newsworthy enough to post on my blog.
Kenny Rogers put his Buckhead estate located at 10 Valley Road, back on the market a few months ago. This time, he listed it at approximately half the price of his initial listing price from several years ago, and did not offer to include the furnishings. Listed at $3,999,000 this time his home sold in just a couple of weeks and closed in a month for very close to asking price. There is good news in this market for sellers that price their home to the current market.
Kenny Rogers' Buckhead Home Sold in September, 2011. A striking property from the street and throughout the entire interior and landscape. Dramatic entry foyer makes quite a statement & leads to rooms that are both elegant & comfortable including formal living and dining rooms, study, great room with 20' ceiling open to large kitchen. Click on the photo to see a virtual tour of the property.
Unfortunately for Kenny, he started with a high price several years ago and was chasing the market down, and then he took the house off the market for about a year. His twin boys were in kindergarten last year and were about to enter first grade here in Atlanta, and I think he just preferred to raise them in his Athens home where he raised his other children.
I’m happy for the agent that the price was right this time and it happened very quickly for all of them.
As we all know it can be challenging to have your house on the market….the good news is that a home priced correctly will still sell even now. It may be painful to get there but it’s where the market is. If you want to (or have to) participate in this market you need to heed the current value to get a sale; he did and had a successful outcome.
Congratulations to the listing agent, Heather Steiner with Atlanta Fine Homes Sotheby’s International Realty!
Healthy inventory levels in Buckhead real estate market – July 2011
Posted by thunsicker in Buckhead, Data and Statistics, State of Real Estate Market on August 3, 2011
Is the Buckhead housing inventory sitting at a healthy rate?
Healthy inventory is defined as being under 18 months of homes or only enough homes to sell in that amount of time.
In the chart below, we see what the inventory looks like for homes for sale versus sold in the Buckhead zip code of 30327.
Looking at our current levels in 30327, we have approximately 12 months of inventory, so if sales remain constant this inventory should turn over in a year which is great news for Buckhead real estate.
Of course, this all varies by price point. At one point in the past couple of years, we had over 4 years of inventory over $2M in Buckhead. So it’s always best to look at the inventory levels in your particular price point when contemplating a sale.
One of things I’ve noticed this summer is that the banks don’t seem to have the large “shadow” inventory waiting to come on the market that the news has reported. I’ve seen articles talking about this slowdown and we may yet have another influx of this inventory, but there has been a dramatic decline of bank owned homes listed in Buckhead recently.
| *All reports are published July 2011, based on data available at the end of June 2011. All reports presented are based on data supplied by FMLS. FMLS does not guarantee or is not in anyway responsible for its accuracy. Data maintained by FMLS may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed. |
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