Buckhead Luxury Home Rental Market Report – March 2012
Every year as the Bradford Pears, Azaleas and other blooms spring to life, so too does the Atlanta Real Estate Sales and Rental Market. This year, 2012, is no exception and might prove to be even more of a shift than in years past. For sales, Atlanta as a whole and Buckhead, specifically has reached the lowest inventory level in a DECADE! Yes a decade. Sales demand is stronger.
What does that mean for the Buckhead Luxury Single Family Home Rental Market? Well, we are again at our lowest inventory levels with homes rapidly getting rented or leased with qualified tenants. Folks are surprised at how strong the luxury rental market is. We aren’t. The Buckhead Luxury Home Rental Market has only had momentary weaknesses in 10 years where there was more inventory than prospective tenants. This occurred in 2007/8 as the market was struggling with a huge oversupply of homes.
In a typical year for Buckhead, there are not enough luxury rental homes for the demand. Tim Francis Realty has been offering Luxury Rental Homes and Property Management for a decade. Our company AVERAGE luxury home rental rate in Buckhead is $4,000 a month. We were just analyzing the latest market inventory for 4 bedroom homes in Buckhead. Today, there are 16 homes available from $2,000 to $7,000. (There are a few higher than $7,000, but that’s a pretty unique market.) There are 4 pending homes in this price point AND in the last 6 months, there have been 46 homes leased. This means there is about a 3 month’s supply of homes.
In Tim Francis Realty’s experience, it will be a crazy spring. As we say many times a day to folks that call, “if you see something you like that fits your budget in the Buckhead Luxury Rental Home Market, TAKE IT IMMEDIATELY”.
Are you looking for a Buckhead Luxury Rental Home in Garden Hills, Chastain Park, Peachtree Park, Buckhead Forest, or Sarah Smith area? Please contact the experts who handle more rentals in this Buckhead Luxury Rental Market of single family homes than any other agent, Tim Francis Realty LLC
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