Winter 2012 Market Update
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

Average Home Price $600,000 - View Graph Trend
Average Price Compared to Last Year Down 15-20%
Average Time on Market 60-90 days
Best Selling Price Range$550,000 - $599,000
Worst Selling Price Range$1,000,000+
Prices As % of Asking Price 95-100%
Existing Home Prices for the past 90 days are?No Change
Market Trend Decreasing
Buyers’ or Sellers’ Market Equal buyers and sellers
Buyer Activity for the past 90 days in Virginia Highland isIncreasing
Seller Activity for the past 90 days in Virginia Highland is?Increasing
Multiple Offers?Yes
Multiple Offers CommentaryAstute 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.
What Percentage of the Current Housing Inventory are Foreclosures and/or Short Sales?5-10%
Is Financing Available For Qualified Buyers?Yes
Housing Inventory Good supply - Some Prices
Inventory CommentsAlthough 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.
Greatest Activity Repeat Buyers
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.
Nearest Metro AreaAtlanta
Housing Hot SpotsMorningside and Lenox Park are considered part of the Virginia Highland area, which is the hallmark
Average Sold Price $600,000 - View Graph Trend

Virginia Highland Local News

Sluggish housing market in line for a better 2012, according to quarterly survey

The figures are still flat-lining, but there appears to be signs of life out there for a housing market that's dying for an upward tick of good news.

The up-and-down ride for real estate the past few years was seen again in the fourth quarter of 2011, according to a survey of HouseHunt real estate agents across the country. There are pockets of good news offset by bad, with home values and prices basically bumping along the bottom of the grid on a perceived never-ending rocky road.

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Mortgage Rates
– Feb 13th, 2012 –
---------------------------------
 30 yr. fixed rate:     3.89%
 15 yr. fixed rate:     3.21%
  30 yr. jumbo rate:  4.61%
  15 yr. jumbo rate:  3.97%

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