Virginia Highland Real Estate Market Conditions & Reports, Virginia Highland Market Trends, Georgia

Market Commentary Provided by Selena Chen
The market is improving, sales activity is increasing, but prices are holding steady. Supply is not as ample as before and the deals closed last winter are harder to find but still can be had for the astute, qualified buyer ready to pounce quickly. Low rates with falling home prices makes a home purchase a great value! Call now for more information at 404-909-2421

Report Date

Winter 2010

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Selena Chen
Keller Williams Atlanta North
Marietta, Georgia
404-909-2421
Selena.Chen@KW.com
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Nearest Metro Area

Atlanta

Buyers’ or Sellers’ Market

Equal buyers and sellers

Average Time on Market

60-90 days

Market Trend

Decreasing

Housing Inventory

Good supply - Some Prices

Inventory Comments

Although at first glance, it seems that an ample supply exists, when parsing a buyer's specific needs, sometimes only a handful of candidates will meet the criteria.

Average Home Price

$600,000 - View Graph Trend

Best Selling Price Range

$550,000 - $599,000

Worst Selling Price Range

$1,000,000+

Compared to Last Year

Down 15-20%

Prices As % of Asking Price

95-100%

Multiple Offers?

Yes

Multiple Offers Commentary

Astute buyers who are familiar with the market will pounce on well-priced properties in good to excellent conditions. It is not uncommon for homes to go under contract within a week or two of its initial offering. Sellers are also more realistic with pricing and preparing their homes for sale, adding to the heightened buying activity.

Greatest Activity

Repeat Buyers

Buyer Activity for the past 90 days in Virginia Highland is

Increasing

Seller Activity for the past 90 days in Virginia Highland is

Increasing

Is Financing Available For Qualified Buyers in Virginia Highland?

Yes

Existing Home Prices for the past 90 days are

No Change

What Percentage of the Current Housing Inventory are Foreclosures and/or Short Sales?

5-10%

Housing Hot Spots

Morningside and Lenox Park are considered part of the Virginia Highland area, which is the hallmark

Reason to Buy/Sell

Virginia Highland continues to attract very affluent residents desiring to live in the City of Atlanta with good schools and parks. Many relocate from the suburbs, desiring a particular intown lifestyle with tree lined streets and pedestrian areas with shops, restaurants and nearby proximity to downtown. Some relocate from other major cities wishing to retain their original urban and close-in neighbrohood lifestyles. Virginia Highland has had relatively little foreclosure and short sale activity, owing its financial strength to the credit quality of its residents. Many are well educated professionals with advanced degrees. This area has always been one of Atlanta's most desirable and does not suffer from oversupply due to limited land within the city. Thus, Virginia Highland can withstand economic cycles better than many other areas.

Average Sold Price

$600,000 - View Graph Trend

National Real Estate Market

National Summary: National Housing Market Recovery Near?

Latest HouseHunt Random Survey Finds Encouraging Signs - First Time Buyers Taking Advantage of $8,000 Tax Credit

Like the legendary phoenix which rose renewed from its ashes, the U.S. housing market appears to be on the verge of emerging from the worst real estate market in three years. Several encouraging signs are there.

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