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Buckhead Real Estate Market in Popular School Districts
By Ryan Ward | July 23, 2007
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The Buckhead real estate market is the quintessential area in Atlanta that represents high end luxury real estate. Buckhead real estate has long been favored because of the location, shopping, dining and several of the top Metro Atlanta Schools; Morris Brandon, Sarah Smith and Jackson. Due to the superior education offered by these three schools, parents can elect to save money that would otherwise be spent on private school education and use it for other lifestyle choices, among those choices are upgrading the quality of life by living in Buckhead. Here are the real estate market statistics with homes located in the three most sought after school districts in Buckhead. The market statistics are obtained from the First Multiple Listing Service, or, FMLS:
- Currently, there are 313 homes for sale.
- 55 Additional homes are under contract or working on through various contingencies.
- 163 Buckhead homes sold during the first half of 2007.
- The absorption rate for Buckhead real estate in these school didtricts is 11.5 months. This is slightly higher than the overall absorption rate for Metro Atlanta which is currently 10.5 months.
The absorption rate is high, but, should be expected to be higher than some real estate markets in Atlanta because of the average price of homes in Buckhead. It is important to note, however, that the supply of available homes is substantially higher than in the past few years.
The average sold price of homes in these school districts is $941,847. When the sales price of homes is considered, the absorption rate does not seem quite so bad. During the first half of 2006, 178 homes sold with an average price of $858,147. The increase in home values is counter to the total Metro Atlanta real estate market which is down 12%.
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Topics: Buckhead Real Estate |
