Top Atlanta Condo Sales for Third Quarter 2013

The third quarter luxury sales are going strong with the Ritz-Carlton Residences in Buckhead closing huge numbers, followed by Sovereign (which has already sold their high-priced inventory).

The condo market has picked up significantly and the remaining “newer” inventory is quickly drying up – as evident by the huge reduction in inventory in all price ranges. When I talk about the “newer” properties, I am referring to any of the new construction condos that were built after 2008. It’s getting a little stressful out there with buyers competing for properties bidding against each other. I have been in a number of multiple offer situations and the outcome isn’t always successful at first – especially in the lower price ranges. Sometimes it takes a buyer a few times to realize the market has really turned and they are no longer in control.

I have targeted the highest sales above $700,000 and ended up with 24 transactions between July 1 and September 30. I did not include any town home units except the Habersham on Ivy.

This is the list, ordered from the highest sale to the lowest:

1. Ritz-Carlton Residences Buckhead Unit 3304 | Closed on 9/23/13 for $3,079,788 (MLS Available Properties)
2. Ritz-Carlton Residences Buckhead Unit 3103 | Closed on 9/9/13 for $2,400,000 (MLS Available Properties)
3. Ritz-Carlton Residences Buckhead Unit 3302 | Closed on 7/19/13 for $2,380,775 (MLS Available Properties)
4. Regents Park Unit 4 | Closed on 7/24/13 for $2,000,000 (MLS Available Properties)
   
5. Sovereign Unit 3702 | Closed on 9/12/13 for $1,685,000 (MLS Available Properties)
6. Sovereign Unit 4202 | Closed on 7/10/13 for $1,650,000 (MLS Available Properties)
7. Sovereign Unit 3504 | Closed on 8/20/13 for $1,360,000 (MLS Available Properties)
8. Sovereign Unit 3004 | Closed on 9/12/13 for $1,340,000 (MLS Available Properties)
9. Sovereign Unit 3205 | Closed on 7/31/13 for $1,100,000 (MLS Available Properties)
10. Habersham on Ivy Unit 3 | Closed on 7/9/13 for $1,045,000 (MLS Available Properties)
11. Habersham on Ivy Unit 1 | Closed on 8/19/13 for $1,010,000 (MLS Available Properties)
12. 1010 Midtown Unit 3515 | Closed on 9/16/13 for $1,005,000 (MLS Available Properties)
13. The Borghese Unit 707 | Closed on 8/12/13 for $804,000 (MLS Available Properties)
    
14. Park Place on Peachtree Unit 30E | Closed on 7/26/13 for $800,000 (MLS Available Properties)
15. Park Place on Peachtree Unit 38E | Closed on 8/15/13 for $800,000 (MLS Available Properties)
16. Park Place on Peachtree Unit 23E | Closed on 10/26/13 for $800,000 (MLS Available Properties)
17. Sovereign Unit 2903 | Closed on 9/24/13 for $799,000 (MLS Available Properties)
    
18. The Aberdeen Unit 803 | Closed on 7/25/13 for $795,000 (MLS Available Properties)
19. The Aberdeen Unit 703 | Closed on 8/19/13 for $785,000 (MLS Available Properties)
20. The Aberdeen Unit 505 | Closed on 8/29/13 for $760,000 (MLS Available Properties)
21. The Aberdeen Unit 906 | Closed on 7/23/13 for $759,000 (MLS Available Properties)
22. The Aberdeen Unit 801 | Closed on 7/11/13 for $725,000 (MLS Available Properties)
23. The Aberdeen Unit 701 | Closed on 7/26/13 for $720,000 (MLS Available Properties)
24. The Aberdeen Unit 301 | Closed on 9/16/13 for $700,000 (MLS Available Properties)

There are 59 luxury condos for sale listed in FMLS (First Multiple Listing Service), 6 Pending Sales ranging from $1,000,000 up to $7,000,000 and 13 Sold properties.

Ranging from $400,000 to $1,000,000, there are 157 Sold properties (with an Average Sales Price of $532,291, 96.37% Sales Price to List Price and an Average of 92 Total Days on Market) listed in FMLS (First Multiple Listing Service), 104 Pending/Contingent Sales and 215 Available Properties.

This does not include any inventory under contract or active which a developer has not listed in the MLS – like at the W Residences, St Regis and Mandarin Oriental.

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Check back for next quarters stats!