The benefits of Buckhead real estate

I was reviewing the January 2009 metro Atlanta housing report and it confirmed what I already knew, there is true value in buying Buckhead real estate. The FMLS database divides communities into approximate areas. The following are some North Atlanta communities, their approximate areas, “months of inventory” and “average days on the market” for new, detached residential homes in January 2009.

While 20.5 months of inventory and 111 days on the market is certainly not a seller’s market, as you can see, the new construction Buckhead real estate market is doing quite well compared to its suburban counterparts. Buckhead real estate is more stable, because there are virtually no empty lots. If a new house is built in Buckhead, an older house is torn down. The total number of homes in Buckhead rarely increases. For this reason, from a simple supply and demand standpoint, I always feel Buckhead real estate is a great long term investment.

The suburban areas of Atlanta still have empty lots, especially as you get up into Alpharetta and Forsyth county. It was much easier to overbuild single family homes in the far north areas of metro Atlanta.

Now condos are a whole different story. The Buckhead condominium market is overbuilt. There are 47.6 months of new condo inventory in Buckhead. It’s much easier to add to the total amount of condos in an area. If the zoning is available, just tear down a few houses or a one story building and hundreds of condos can be added to the market in one swoop. I guess that’s why condos are considered the canary in the real estate mine shaft.

If you have any questions about Buckhead real estate, or any other real estate in north metro Atlanta, please feel free to contact me

Related posts:

1. Buckhead Months of Inventory
2. Months of home inventory for Buckhead
3. July 2010 Buckhead Home Inventory
4. Buckhead home inventory for March 19th
5. Home Inventory for July 9, 2009