Atlanta Condos For Sale

Midtown Atlanta Market Report | Park Central Condominiums | March 2013

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Midtown Atlanta Market Report | Park Central | March 2013

 

Park Central Market Report March 2013

 

 

Let’s take a look at the Sales Activity in March for Park Central Condominiums…..

ACTIVE LISTINGS (9) (UP 2 From January’s Report)

  • Four 1 Bedroom condos ranging in price from $129,000 to $204,000 — Average List Price: $156.250
  • Five 2 Bedroom condos ranging in price from $190,000 to $249,000 — Average List Price: $215,000

PENDING LISTINGS (UNDER CONTRACT) (4)

  • Two 1 Bedrooms at $130,000 and $140,000 — Average List Price: $135,000
  • Two 2 Bedrooms at $239,000 and $249,000 — Average List Price: $241,000

SOLD (5)

  • One 1 Bedroom at $134,000
  • Four 2 Bedrooms ranging from $209,000 to $218,000 — Average Sold Price: $212,000

2012 SALES ACTIVITY COMPARISON

  • One 1 Bedroom sold at $109,000

We can see the most dramatic change in prices in the 2 bedroom homes at Park Central. While those SOLD averaged $212,000, the homes Under Contract are up significantly at $241,000!  However, the current homes listed For Sale have a lower average, due to the lower priced home at $190,000.  This is actually a GREAT buy…10th floor, over 1,000 sq. ft. AND the kitchen has been renovated as you can see in the photo here…

Park Central Condominiums Midtown Atlanta

Search Homes For Sale at Park Central Condominiums HERE

Midtown Atlanta Market Report | February, 2013

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I produce a good 80% of the content on this site. It’s a-l-o-t of work, let me tell you! But I enjoy it. Market reports, while a vital part of sharing the status of the Midtown Atlanta Market with you, take even more time! Due to the number of communities in Midtown (condominium buildings being a community) I’m going to do an overview of the Midtown market every other month, and then the other month will be a detailed review of the major buildings that I track.

Midtown Atlanta Market Report | February, 2013

 

Midtown Atlanta with Spire Midtown and Viewpoint MidtownActive Listings

Total Listings : 110

Price ranges from $54,900 at Glendale Condominiums to $1,750,000 at Above The Four Seasons

The Average List price is $349,680

Contingent Listings (Due Diligence or other)

Total Listings: 10

Price ranges from $65,000 at the Massellton to $364,000 at Viewpoint

Pending Listings

Total Listings: 40

Price ranges from $59,900 at 1280 West to $1,380,000 at 1010 Midtown

The Average List Price is $250.602

Pending Offer Approval (Lender or other Type of Approval)

Total Listings: 22

Price ranges from $55,000 at Melrose Park to $499,900 for a Penthouse home at Metropolis Midtown

The Average List Price is $143,641.  (NOTE: 18 of the 22 listings are under $200,000.)

Sold

Total Listings: 35

Prices range from $39,900 at Melrose Park to $570,000 at 1010 Midtown

The Original Average List Price was $202,120, but the Average List Price at closing was $196,230. As you can see, Seller’s did not have to discount much off of their List Price to sell their home!

Of the 35 Sales, only 4 were ABOVE $300,000, 9 were between $200-300,000 and 22 were below $200,000

 

Is The Atlanta Real Estate Market Hot?

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When you market and sell real estate, you can’t walk into a restaurant, get your car serviced, or even go for an evening walk without being asked the question, How’s the real estate market? Is the Atlanta real estate market hot?

Well, the answer is pretty much…yes, yes and….YES!

I’ve placed condos on the market at 9am and had them Under Contract at 9pm! I’ve had Buyers make offers on multiple properties before finally getting one. we’ve not paid over list price….yet….but that could soon happen!

Don’t be surprised if you are home shopping in Atlanta, and a Seller does NOT allow you to have an appraisal contingency on your contract. In other words, if you offer to pay $275,000, and the condo appraises for $270,000, the Seller is expecting you to come to the table with the extra money. That would, sort of be like paying more than list price, but not really.

But if you need some more credibility about the Atlanta real Estate market, here you are…

 

Real World Homeowner Association Stories

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See on Scoop.it – Other Atlanta News Events

In the world of community association management, there is never an end to the crazy and sometimes idiotic things folks will do.

 

Thom Abbott‘s insight:

While I’m not a Property Manager, as a real estate agent, I’ve seen some interesting rules that are presented to owners and AGENTS in condo buildings. I always say, if there is some wierd rule, something happened to cause it.

See on midtown.patch.com

Midtown Atlanta Market Report | Dakota Condominiums | January 2013

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Dakota Condominiums has been without any homes For Sale for a few months. That has suddenly changed as we have some new opportunities in this great Midtown Atlanta condominium building.

Midtown Atlanta Market Report | Dakota Condominiums | January 2013

 

Dakota Condominiums Midtown Atlanta Market Report January 2013

Here is a review of the 4 homes that are Active Listings:

  • An oversized 1 bedroom (1200 sq. ft) is listed at $238,500
  • Three 2 bedrooms are listed at $314,000, $479,000 and $519,000.
  • No Homes SOLD in January, 2013

Interesting point….the listing at $519,000 is a townhome floor plan that I represented the Sellers on when they sold it!! It sold then (2007) for $468,000. The current owners have done some upgrading in the bathrooms and other parts of the town home. It will be interesting to see how this one pans out!

ANOTHER GATech Parent Buys Midtown Atlanta Condo!

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Investing in your child’s higher education is an important thing! I remember the couple dollars ( or few) that my parents shelled out to send me to the University of Houston and the Hilton College of Hotel and Restaurant Management. At that time, I’m not sure if my parents had the money to purchase a home or condo for me to live in..it was probably the time of 15% interest rates! But in Midtown Atlanta, parents at Georgia Tech have another opportunity to invest in their child’s education….Buying Midtown Atlanta Real Estate!

ANOTHER GATech Parent Buys Midtown Atlanta Condo!

 

This past Friday, another GATech parent invested in their child’s future by buying a Midtown Atlanta condo….in this case, at Cornerstone Village. Cornerstone is still a value option for a parent looking to purchase a condo for their student to live in while attending GATech!  This was the last 2 bedroom that was on the market, but another one could appear anytime? There are still some great 1-bedroom options, but they don’t work to well for students that might want a room mate. Click Here to learn MORE about Cornerstone Village! 

 Georgia Tech Off Campus Housing in Midtown Atlanta Condos

Prices are going up….despite what you hear about the economy or real estate elsewhere in the country. Cornerstone Village in fact saw an average price increase of 18% from 2011 to 2012!!! Now just might be the best time to buy!

A long term investment opportunity may be available to you once your son or daughter leaves school. Leasing your condo requires an approved leasing permit from the HOA!  This waiting list in most Midtown Atlanta condo buildings pushes FIVE YEARS! So, if you purchase now, and your student lives there for 4-5 years, and you’ve placed your name on the rental permit waiting list, you might clear it and be able to rent your Midtown Atlanta condo back out! FULL DISCLOSURE — there is NO, repeat NO guarantees that you will clear the list in this time period. It’s just an option for you to consider.

Thom Abbott

Associate Broker, REALTOR(R)
905 Juniper Street, NE Suite 110
Atlanta, Georgia 30309
770.713.1505 Direct
404.876.4901 Office

 
 
 
 
 
 
 
 
 
 

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