Atlanta Real Estate
By R. Ward
Atlanta real estate should be at the very least broken down into three separate markets if you are trying to determine the real estate market conditions. In a city as large as Atlanta, it is probably best to break it down even farther, but for now, let s look at the three main real estate submarkets that make up Atlanta real estate, condos and townhomes, luxury real estate and the remaining single family homes that are not Atlanta luxury real estate.
Condos and Townhomes - The townhome and especially the condo market in Atlanta continue to have difficulties because of the large supply of existing and new construction available just about everywhere you look. It s not that buyers have shunned this type of housing, it really is simply a matter of supply and demand and supply is outpacing demand. The number of new construction condos and townhomes becoming available continues to increase as projects that began when the market was booming are completed. This represents a good time to buy an Atlanta condo as it is most definitely a buyers market.
Luxury Real Estate - Atlanta luxury homes have suffered the same problem for the same reasons that the condo and townhome markets have. Speculation on the part of builders has led to an unprecedented number of luxury home starts in Atlanta. There simply are not enough buyers for the total number of available homes on the market. If you are a builder, you may be having problems trying to sell in a market that is flooded with the number of available options in Atlanta luxury homes. This has impacted the resale luxury home market as well.
Single Family Homes- This represents the majority of available homes for sale in Atlanta and truly is the meat and potatoes of the Atlanta real estate market. Atlanta real estate appears to be in a unique position because of the continued population growth. Since the year 2000, Atlanta is the fastest growing metropolitan area in the United States. This fact, combined with the idea that the majority of homebuyers prefer single family homes to other choices, has allowed the Atlanta real estate market to remain strong while real estate markets around the country have slowed down.
Atlanta real estate remains an excellent value when compared with real estate in cities with a comparable population and there are no current trends that suggest that this will change anytime soon. In fact, because of the excellent whether and climate and an excellent geographic location for business commuters, Atlanta looks to continue its current trend.
Ryan Ward of Keller Williams Realty Consultants is a member of the national, state and local REALTOR associations, and resident of Alpharetta, Georgia who specializes in listing and selling real estate in Sandy Springs, Roswell and Alpharetta. For more information about Ryan Ward and visit his Atlanta Real Estate Listings
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