Atlanta Luxury Real Estate

Would you like to buy a new luxury home in Atlanta? If so, now would be a fantastic time. The Atlanta luxury home inventory is very high and, as wel all know about supply and demand, that makes for a great oppotunity for buyers. Let's take a look at some numbers and see why the opportunity is so great for buyers in the luxury real estate market in Atlanta. The easiest place to look at the Atlanta luxury real estate market is in the area of Buckhead. Data gathered from the FMLS shows that in January of 2006 there were 74 new homes for sale over $1,000,000. That number now is nearly double what it was just one year ago. The latest statistics show that there were 146 new luxury homes over $1,000,000 in January of 2007. These numbers are consistent with all areas of Atlanta. The only area that these number are relatively unchanged in is the area of Sandy Springs, inside I-285. in January of 2006, there were 40 over $1,000,000 and there were 46 in January of 2007. What this means is that builders are sitting on the homes longer and having to reduce prices to compete with the expanding inventory. Therein you can find the opportunity for the savvy buyer. The investment made in homes at this price point is large so it is extremely important that your REALTOR be aware of the current market and the direction it is trending. Short term market conditions can effect the home price considerably and should play a factor in your decision as to when to buy. As spring buying warms up and builders slow down in the new home starts, now might be the best time.