It seems like everywhere I go, someone is asking . . .
“How is the Atlanta market surviving the current real estate market?”
So, is Atlanta surviving?
I believe it is a real estate miracle… Prices are relatively stable even with an abundance of inventory on the market! So, most sellers aren’t losing their investments but buyers have a great amount of choices with stable prices! And, yes… this is a real estate miracle! Even Clark Howard had a special this week on Real Estate and the Mortgage Industry and stated that although the national real estate market reported prices down 2%, the Atlanta market remains flat.
See this great article below from Unique Homes/ Top 25 Markets to Watch. Camilla McLaughlin.
Individually, each of these markets gives us a reason to take notice. Collectively, they will indicate where luxury real estate is going. We’re watching. Are you?1. Annapolis, Md. Boaters gravitate to this historic city on the Chesapeake Bay, as do buyers seeking quality of life in a town reminiscent of Williamsburg. Affordable prices compared to Washington’s luxury enclaves and a reasonable commute to both Washington and Baltimore make this waterfront gem highly desirable.2. Asheville, N.C. A perennial on lists of great places, Asheville continues to draw upscale buyers looking for a low-key, outdoorsy lifestyle. The city’s eclectic ambiance, which fosters folk arts, great restaurants and lots of entertainment, adds to the allure.
3. Aspen, Colo. The fire hasn’t gone out of this market. No longer just a ski enclave, Aspen has four-season appeal and a reputation as a platinum location. Restrictive zoning and growth policies restrain supply, so don’t expect a property explosion or bloated inventories here.
4. Atlanta, Ga. No bubble worries here with respectable, not astronomical, appreciation. Luxury still lives in Buckhead, where the teardown trend continues. New upscale communities with lots of lifestyle amenities, city retreats and waterfront on nearby Lake Lanier continue to sell, fetching top dollar.
5. Austin, Texas Lots of untapped potential for luxury exits in this Texas hill country city, which posted record gains for much of 2006. The University of Texas, two lakes, and the bragging rights to the “music capitol of the world” bring a mix of newcomers.
‘Hope this sheds some light on the market. Watching national news, you get the real estate doom and gloom synopsis. Fortunately, for us, it looks like we’re not experiencing the pains felt in other parts of the country.
As always, please let me know if I can assist you in your next real estate transaction!