Vinings vs. Buckhead Atlanta – Stronger Housing Market?

STOP, SMILE:) Vinings vs. Buckhead – Updated July 10th – Vinings “Concern” Not Founded
I thank a good friend at the Windy Hill Athletic Club for leading me to address their concerns about the Vinings single-family market, as the perception has been negative. STOP. SMILE πŸ™‚ The market has improved, year-over-year. When it comes to units sold, you see a 3.5% increase of 28 to 29. Median sales took a major swing upwards of 25% from $674,000 to $790,000. Admittedly, the pure average sales price dropped by 4%, but an outlier can explain it. In 2018, the highest selling house was $2.7 million compared to $1.92 Million and thus a difference of 40%. Finally, Days on the Market experienced the same mixed percentages as the sales price. Median declined 10% from 41 to 37 days, but the average increased by 37% as one house took 337 days to sell in 2019 while the longest sale was 214 days in 2018. (Don’t ask me about re calibrating the Days on Market stat as some of these houses went on the market the previous year, for both 2018 and 2019.)

Smile πŸ™‚ Turned the Corner – Recent activity in Buckhead Atlanta, as defined by the 30305 zip code appears to have stopped a worrisome trend. The trend through May accounted for a decline in sales, 18% year-over-year. The median declined by 2%, and the the only reason the pure average increased was because a $8 Million house sold while in 2018 the max sale was $3.9 million.

Vinings, by a hair, wins the contest for the stronger housing market, compared to Buckhead Atlanta (30305 zip code). Looking at the sales numbers for May of 2018 and 2019, Vinings performed slightly better. Clearly, Vinings outperformed Buckhead Atlanta in house sales. Both the number of units sold and average sales price increased. Even with just a 7.7% increase (1 unit) in houses sold, the average dramatically climbed 37.9% from $663,654 to $915,393. This sub-market was the only one to see an increase in both sales price and volume.

Buckhead Atlanta More Attractive for Condominium and Town Home Growth
Without question, Buckhead Atlanta surpasses Vinings for this sub-market in the way of activity, and demand. The number of units sold increased a whopping 23.2% (45 to 53 units) while the Days of Market positively fell 12%, 69 to 55 days. In Vinings, the demand for town homes and condominiums dropped 10%, even though the sales price increased by 12%($321,390 to $363,350). For Vinings, this result is not surprising as homebuyers looking in this location prefer a house with land.

Thank You for reading this article. For more questions, please contact me, James Kobal at 678.993.4951 or James.Kobal@BHHSGeorgia.com

I Feel The Need for Speed …Relocate to Atlanta | Atlanta’s Attraction for Relocation Combines CRE + Residential

Business Environment Spurs Growth and Renewal with Government Support

I Feel The Need for Speed…to Relocate to Atlanta. Atlanta 3rd Best Among Large Cities for First Time HomeBuyerrs – Reality is #1
Now if you look at the list about Atlanta has to offer compared to the two cities ranked higher, we are most definitely #1. Look at the great business climate in which to work, and corporate one for relocation. Add to the fact, Atlanta is one of the most popular tourist and convention destinations, we are the best. Last but not least, are the other cities really major ones?

Atlanta So Strong It Cannot Be Ignored by Competitor Cities:
Originally published on June 14th, Atlanta’s attraction for being a top business destination in “which you want to work” attracted attention in the Midwest by a was noted this rely by the renowned Key Tower Ohio. It ranked Atlanta as the #1 city in which to work.

Public-Private Cooperation:
The Atlanta Westide Future Fund  is one of the best present embodiment of cooperation between the city government and private philanthropic support to spur Atlanta’s commercial and residential real estate development while protecting its current residents against real estate tax increases for – the next 20 years. SunTrust Bank, earlier this May donated $5 million to the fund. Ms. Ebony Ford, according to the Atlanta Business Chronicle on May 3rd, benefited from it.

I thank Tim Keane who said the Westside of Atlanta provides the best commercial and residential real estate investment opportunities and highlighted the private-public cooperation, at the Atlanta Design Fesitval’s “Thoughtful Development for a Sustainable Future” on June 4th 2019. He and Nathan Hedges said that Atlanta’s Westside provides the greatest opportunity for commercial real estate re-use. Therefore, we have only tapped the surface of the Westside Atlanta’s growth.

Such cooperation can be traced to a great relationship between Atlanta’s city hall and business sector, especially its Fortune 500 companies.

What does that mean for residential real estate? Midtown Atlanta continues to assert its position as the strongest sub-market, the prime area for Fortune 500 Companies relocation. Berkshire Hathaway HomeServices Georgia Properties is the best Midtown Atlanta real estate has been entrusted to serve the relocation of iconic Atlanta corporations.

Fortune 500 Companies:
Atlanta’s Fortune 500 international business environment continues to grow. In its recent recent history, the Georgia Aquarium grew from the incredible collaboration between Atlanta May Shirley Franklin and one Home Depot Founder Bernie Marcus. Now, you have rejuvenation of the West Side of Atlanta with the other owner, Arthur Blank after he built the world renowned Mercedes-Benz stadium.

The private and government sector are always looking to collaborate to improve the city. Rarely, do hear about a perpetual dispute between the two parties. This cooperation has its origins in the Civil Rights Movement as the “City too busy too hate” and former Mayor Kasim Reed, “Cooperation is better than confrontation.”


Taxes and Cost of Living

Atlanta’s and all of Georgia’s reputation for being a less-expensive place to live is definitely merited, and that is with great quality of life. Rarely, do you find people who have lived in Atlanta since the mid-90’s returning back to high tax states such as New York, Connecticut, New York, Illinios, and California. Moreover, the spending power we enjoy in Atlanta greatly surpasses what residents in other states enjoy. For example, earning $50,000 in Atlanta is the same as $90,685 in New York City. (Note WalletHub and BestPlaces.net provided the information.)

Climate

Forget “Hotlanta.” New York City and Chicago are just as hot in July and August as Atlanta. Our winters are mild, and we do not suffer from the winter drudgery. Forget about statistics. Atlanta’s weather consistently changes, except for the summer.


Diversity of Neighborhoods

In Atlanta, as we continue to unify a city of transplants, we celebrate and visit the greatness of the uniqueness of each neighborhood. Each one has its own special feel that you can immediately experience. Look back to Atlanta’s origins and Buckhead Atlanta’s founder Henry Irby who founded it back in 1840 after moving here from South Carolina.