The graph above provided by metrostudy demonstrates the tightening conditions in the Atlanta new home market. The chart includes single family homes, townhomes and condominiums. It is quite clear that the 40,000 new housing units bubble that existed the third quarter of 2006 has contracted significantly. At the current of just 7,500 units available, the absorption rate translates to a seven month supply. A normal supply is considered around nine months. In hot neighborhoods, we feel the supply is closer to 2-3 months. The entire Atlanta brokerage community is abuzz with talk of “no available inventory.” We are seeing about 3-4 buyers for each home we deliver. If you are looking for a new home it is wise to move quickly and make strong offers. If you are putting your home on the market and it’s in good condition, consider raising the asking price and being patient. The seller’s market is back!
Epic Development is currently building in Buckhead, Lynwood Park, Brookhaven, LaVista Park, Old Fourth Ward, Ormewood Park, Decatur, Candler Park, Oakhurst, Sandy Springs and Virginia Highland. View all the details of our current listings here. For more information about homeownership or real estate investment in Atlanta call Jim LaVallee at 404-847-9080 or write Jim@EpicDevelopment.com. For more information about commercial real estate operations or investment visit EpiCity.com.