It’s yet another stellar number for a high-profile building in Buckhead.

The Ritz-Carlton Residences Buckhead managed to close 55 of its luxury condominiums in Buckhead, closing $39,570,400 in 2012 (with an average sales price of $719,462). It’s another great number for the condo market, as out inventory continues to dwindle. With no new condo buildings for 2013 and beyond (except rental buildings), I expect to see a very strong resale market in the not-so-distant future.

So how did the Ritz-Carlton Residences Buckhead manage to close so many units last year? They had the benefit of waiting to come to market until the timing was right. Other buildings came to market and then had to reduce their pricing in order to generate sales – like Terminus (remember those huge discounts?). The developers of 3630 Peachtree were quite smart in waiting. There have been no severe price reductions and buyers were able to get a lot for their money. Each unit comes with a storage space, a minimum of two-parking spaces (even for a one-bedroom unit), motorized shades and a complete kitchen Viking® appliance package (including a gas range), plus a washer/dryer. And lets not forget the legendary services of the Ritz-Carlton as well.

What’s left for sale in the building? Check it out below, but call me for information. They have limited inventory.

These are the sales I have compiled over the course of the year noting the 40 highest luxury condo sales for 2011! Sovereign and the Ritz-Carlton appear most often on the list, along with some additional new construction buildings (and some resales too). I kept track of the 40 highest closed luxury property sales, which resulted in $55,344,507 in sales. It’s probably not as high as we would like it, but the market has picked up significantly and this year has started off with a bang!

This is the list, ordered from the highest sale to the lowest: Click Here for More Photos & the Rest of the Feature

If you have been reading my quarterly results posts, you will notice in previous periods the sales in the upper ranges were few and far in between. The new data now shows the train has indeed left the station and more buyers are purchasing condos above the $800,000 price range. This is more than double the transactions from last quarter (on my previous list). The results are encouraging and exciting. As a side note, only two transactions on my list were cash and the rest were all financed (lenders are now starting to get comfortable with giving money to buyers in high-end condos).

I have targeted the highest sales above $800,000. Missing from the fourth quarter is Sovereign which had closings in every quarter up to now. But don’t worry, they have a condo under contract for $2,700,000.

1. St Regis Residences Buckhead Unit 1730 | Closed on 10/20 for $3,300,000 (MLS Available Properties)
2. Ritz-Carlton Residences Buckhead Unit 3402 | Closed on 12/1 for $2,414,394 (MLS Available Properties)
   
3. The Mansion on Peachtree Unit 41B | Closed on 11/18/ for $2,150,005 (MLS Available Properties)
4. The Bellingrath Unit 3 | Closed on 11/29 for $1,350,000 (MLS Available Properties)
5. The Brookwood Unit 1901 | Closed on 10/6 for $1,135,700 (MLS Available Properties)
6. Park Avenue Unit 29S | Closed on 12/15 for $1,165,00 (MLS Available Properties)
7. Ritz-Carlton Residences Buckhead Unit 3107 | Closed on 12/14 for $1,113,500 (MLS Available Properties)
8. Regents Park Unit 9 | Closed on 10/21 for $1,050,000 (MLS Available Properties)
9. West Wesley Townhomes Unit 4 | Closed 12/2 for $1,000,000
10. West Wesley Townhomes Unit 3 | Closed 11/2 for $1,000,000
11. West Wesley Townhomes Unit 5 | Closed 10/28 for $990,000
12. West Wesley Townhomes Unit 1 | Closed 11/7 for $980,000 
    
13. The Brookwood Unit 2001 | Closed on 11/11 for $970,000 (MLS Available Properties)
14. Above the Four Seasons Unit 4310 | Closed 12/19 for $919,900 (MLS Available Properties)
15. 2500 Peachtree Unit 704 |Closed on 10/26 for $895,000 (MLS Available Properties)
16. 2500 Peachtree Unit 606 |Closed on 11/29 for $830,000 (MLS Available Properties)
    
17. Ritz-Carlton Residences Buckhead Unit 2304 | Closed on 10/06 for $805,000 (MLS Available Properties)
    
18. Ritz-Carlton Residences Buckhead Unit 2104 | Closed on 12/13 for $799,500 (MLS Available Properties)

Aside from these results, there are 12 Pending Sales in FMLS (First Multiple Listing Service) ranging from $618,000 to $2,700,000 and 209 Pending Sales ranging from $200,000 to $579,900 as of today. So yes, there is activity in the market. This does not include units under contract that are not listed in the MLS, like from new construction developer units. And, as we learned in the past, we can’t count on pending sale because they may or may not close. What we can count on are solid sales.

The days are flying by and we are pretty close to the end of the year. I’ve been super busy as the market continues to heat up and our inventory continues to shrink. I pulled the highest sales for the third quarter and the results were interesting. New construction condos are continuing to sell very well in all price ranges. Since this post is about the upper price range, I have targeted the highest sales above $700,000. You’ll notice that buyers are now going to a variety of properties and not just Sovereign like last quarter (which pretty much dominated the highest closings).

So what does the top 8 list look like?

1. Sovereign Unit 3304 | Closed on 8/12 for $1,300,000 (MLS Available Properties)
   
2. The Aberdeen Unit 1101 | Closed on 8/29 for $1,285,250 (MLS Available Properties)
3. Gallery Unit PH 2601 | Closed on 9/23 for $1,000,000 (MLS Available Properties)
4. Park Place Unit 37E&F | Closed on 8/01 for $975,000 (MLS Available Properties)
5. Ritz-Carlton Residences Buckhead Unit 1801 | Closed on 7/22 for $956,725 (MLS Available Properties)
6. Ritz-Carlton Residences Buckhead Unit 2404 | Closed on 8/04 for $799,500 (MLS Available Properties)
7. The Atlantic Unit 4502 | Closed on 7/01 for $733,033 (MLS Available Properties)
8. Astoria Unit 901| Closed on 7/29 for $726,000 (MLS Available Properties)

There is plenty of activity in the lower price range also. The under $300,000 category continues to thrive and we are starting to see a sellers market emerge. Surprising and exciting!

Next quarter we’ll see the first sale happen at the Mansion on Peachtree (since the new owners took over) and another building which has recently come back to market. Exciting stuff for the condo market and a definite sign the market is coming back to life in full force.

The wait is over! About a week ago, I went to TOMO Japanese Restaurant on the first night it was open. I couldn’t wait any longer! The restaurant is in the “soft opening” stage, but you will not be able to tell any difference. It feels like they have been open for years, and they have! (Just not at this location.) The new restaurant is slightly larger in size and now has a full bar and outdoor terrace, two things the last location lacked. It was definitely a good move to Buckhead!

The restaurant is located at the base of the new Ritz-Carlton Residences Buckhead. A gorgeous new condominium project just steps away from Atlanta’s best shopping! TOMO is a welcome addition to the Buckhead restaurant scene, so be sure to check it out. I think it’s the best sushi in Atlanta. Click Here for More Photos & the Rest of the Feature

I’ve been very patiently waiting for my absolute favorite sushi restaurant in Atlanta (TOMO Japanese Restaurant) to open at the new Ritz-Carlton Residences Buckhead. And finally we have some solid news regarding the transition from the current, soon to be previous, Vining’s location. Looks like we can expect a late October opening at the new location. Awesome!

This is the best kept secret for sushi in Atlanta. Everything TOMO serves is ultra-fresh, delicious and looks like a work of art (including their desserts). They have a really terrific saki menu as well, including a wonderful organic bottle which I have tried many times.

The last day you can dine at the Vining’s location is October 1st, so make sure you go before then. After TOMO moves out, a new owner will take over the space and open his own Japanese restaurant.

Check back here for updates!

Can you believe we are already through the second quarter of 2011? Time sure goes by quickly. I pulled the highest sales for the second quarter and the results weren’t too surprising. Sovereign continues to be the dominant building in the luxury market closing units over $1,000,000.

It’s not that there aren’t a good number of units over a million to sell. When I pulled the listings in FMLS (First Multiple Listing Service), there are currently 100 properties available. Remember, that doesn’t include units in buildings where the developer hasn’t listed all of the inventory. Still without a single sale this year are The Mansion on Peachtree, W Downtown Atlanta Residences and the St. Regis Residences in Buckhead.

So what does the top 7 list look like?

1. Sovereign Penthouse B – Unit 4802 | Closed on 5/24 for $5,000,000 (MLS Available Properties)
   
2. Sovereign Unit 4201 | Closed on 5/2 for $1,975,0000 (MLS Available Properties)
3. Sovereign Unit 3901 | Closed on 6/15 for $1,750,000 (MLS Available Properties)
4. Sovereign Unit 3101 | Closed on 4/13 for $1,310,000 (MLS Available Properties)
5. Regents Park Unit 10 | Closed on 5/25 for $1,200,000 (MLS Available Properties)
6. Ritz-Carlton Residences Buckhead Unit 2507 | Closed on 6/15 for $1,073,500 (MLS Available Properties)
7. One Brookhaven Unit 204| Closed on 6/03 for $1,000,000 (MLS Available Properties)

I’ll continue to track closings. If you have specific questions about the market (in any price range), please let me know. You can email me privately or simply make a comment below.