Midtown Atlanta Condo Market Report September 2009

Yes, it is November 15th, and I'm reporting on September! Actually, our numbers are not out till mid month, so I should be doing a quick follow up with October's numbers in the coming days. But, I wanted to get this report out, so you could see a true picture of the market.

In preparing the Midtown Atlanta Condo Market Report, it kinda put the market into a harsh perspective. But a quick reference to this report will make it easy for any Seller to understand the current Midtown Atlanta Real Estate Market and the challenges we face.

The Midtown Atlanta Condo Market Report September 2009 covers 16 major communities (buildings) in the Midtown Atlanta area. Of those 16 buildings, 8 buildings had NO SALES in September, 2009!

Cornerstone Village

2008 - Average Sales Price: $165,000 (1 Bed)

No 2 Bedrooms were sold in 2008

2009 - NO Sales of either 1 or 2 bedrooms

Average List Price: $141,535 (1 Bedroom)

Average List Price: $230,975 (2 Bedroom)

805 Peachtree

2008 - No Sales of either 1 or 2 Bedrooms

2009- Average Sales Price: $184,500 (1 Bed)

No 2 Bedrooms were sold in 2009

Average List Price: $242,600 (1 Bedroom)

Average List Price: $313,100 (2 Bedroom)

Spire Midtown

2008 Average Sales Price: $182,700 (1 Bedroom)

No 2 Bedrooms were sold in 2008

2009- Average Sales Price: $158,650 (1 Bedroom) -15%

2009- Average Sales Price: $221,333 (2 Bedroom)

Average List Price; $206,566 (1 Bedroom)

Average List Price: $317,847 (2 Bedroom)

Metropolis Midtown

2008 Average Sales Price: $238,000 (1 Bedroom)

No 2 Bedrooms were sold in 2008

2009- Average Sales Price: $158,000 (1 Bedroom) -56%

2009- Average Sales Price: $233,000 (2 Bedroom)

Average List Price: $165,269 (1 Bedroom)

Average List Price: $317,540 (2 Bedroom)

905 Juniper

2008 Average Sales Price: $234,029 (1 Bedroom)

No 2 Bedrooms were sold in 2008

There were no sales in September, 2009

Average List Price: $264,900 (1 Bedroom)

Average List Price: $418,325 (2 Bedroom)

Tuscany

No 1 Bedrooms were sold in 2008

2008 Average Sales Price: $233,000 (2 Bedroom)

2009 Average Sales Price: $161,250 (1 Bedroom)

No 2 Bedrooms were sold in 2009

Average List Price: $159,310 (1 Bedroom)

Average List Price: $209,900 (2 Bedroom)

Plaza Midtown

2008 Average Sales Price: $220,000 (1 Bedroom)

2008 Average Sales Price: $298,750 (2 Bedroom)

2009 No 1 Bedroom Sales

2009 Average Sales Price: $209,000 (2 bedroom) -30%

Average List Price; $180,161 (1 Bedroom)

Average List Price: $260,590 (2 Bedroom)

MidCity Lofts

In 2008, there were no sales in MidCity Lofts.

In 2009, there were no sales in MidCity Lofts.

Average List Price: $ 217,475 (1 Bedroom)

Average List Price: $ 344,750 (2 Bedroom)

Aqua Midtown

In 2008, Sales in Aqua Midtown were still going through the On-Site Sales Center. In May, 2009, the remaining units were sold at Auction.

The Average List Price for the Auction was $552,250

The Average Bid Price for the Auction was $279,500

There is currently a 2 Bedroom listed at $499,900 and a 3 Bedroom listed at $1,075,560.

Park Central

2008 Average Sales Price: $158,900 (1 Bedroom)

2008 Average Sales Price: $231,666 (2 Bedroom)

2009 Average Sales Price: $150,900 (1 Bedroom)

2009 Average Sales Price: $237,900 (2 Bedroom)

Average List Price: $137,725 (1 Bedroom)

Average List Price: $233,157 (2 Bedroom)

The Best "performing" building in Midtown!

Mayfair Renaissance and Mayfair Tower

2008 Average Sales Price: $185,583 (1 Bedroom)

2008 Average Sales Price: $288,000 (2 Bedroom)

2009 Average Sales Price: $153,500 (1 Bedroom)

No 2 Bedrooms Sold in 2009

Average List Price: $158,110 (1 Bedroom)

Average List Price: $357,363 (2 Bedroom)

The Dakota Condominiums

No 1 Bedrooms Sold in 2008

2008 Average Sales Price: $355,000 (2 Bedroom)

2009 Average Sales Price: $235,000 (1 Bedroom)

2009 No 2 Bedrooms Sold

Average List Price; $275,000 (1 Bedroom)

Average List Price: $398,941 (2 Bedroom)

Peachtree Lofts

2008 No 1 Bedrooms Sold

2008 Average Sales Price: $175,000 (2 Bedroom)

2009 There were No Sales in the Building.

Average List Price: $158,700 (1 Bedroom)

Average List Price: $229,892 (2 Bedroom)

(This building just passed a major assessment to refurbish the exterior, roof, a/c systems, and remodel the lobby.)

Peachtree Walk

2008 No 1 Bedrooms Sold

2008 Average Sales Price: $201,000 (2 Bedroom)

2009 There were No Sales in the Building.

Average List Price: $143,980 (1 Bedroom)

Average List Price: $201,600 (2 Bedroom)

 Ansley Above The Park

This Building had no Sales in 2008 OR 2009!

Average List Price: $375,042

Above The Four Seasons

This Building had no Sales in 2008 or 2009.

Average List Price: $336,300 (1 Bedroom)

Average List Price: $703,733 (2 Bedroom)

There are three other buildings that are not included in the Midtown Atlanta Condo Market Report September 2009. They are Viewpoint Midtown, Luxe and 1010Midtown. These three buildings are still being sold by On Site Sales Centers, and as such do not fully report their sales since they are not always listed in the listing service.

The Thom And Ray Team would be happy to help you find a new home in any of these buildings. If you are looking to sell your Midtown Atlanta Condo, give us a call to discuss our Marketing Plan!