According to a report by Haddow & Co., sales on intown metro Atlanta condos were up in the first half of 2011. The Atlanta-based real estate consulting firm says that a total of 482 units were closed on or contracted through June. By comparison, 463 units were sold in the first half of 2010, and 368 units were sold during the second half.
To be fair, the report only examined condo sales from downtown Atlanta to Buckhead and east to Decatur. In that sample, there were 93 active condo projects (defined as completed or under construction with unsold units.) Overall, these 93 projects comprise 6,817 units. Of those, 2,369 remain unsold.
The Haddow report also mentions that the smallest gap between supply and demand exists for units priced under $300,000. Not surprisingly, this segment represents the highest percentage of active inventory (59) and is 77.6 percent sold out.
It will be interesting to see if the increased condo sales continue throughout the year. Even though the increase is slight, any positive news in the Atlanta real estate market is certainly welcome.
A fine example of the popularity of Atlanta condos can be found at 1010 Midtown, which was the top-selling condominium building in Atlanta through the first quarter of 2011 and continues to sell well. With its unique location in the heart of Midtown, people looking for a maintenance-free lifestyle and unmatched accessibility are never disappointed by these luxury Atlanta condos.
For more news on Atlanta condos, stay tuned to Atlanta Real Estate Forum.