These five intown Atlanta properties haven’t sold for 100+ days. What gives? (North Druid Hills: how much, houses)

[LynnHarris1]

Even as reports claim Atlanta’s housing inventory is shrinking—and at above-list prices—some properties across the intown landscape just can’t seem to land a solid offer.

Take these five listings: All are in sought-after locations and offer modern updates. And, the longer they linger on the market, the more their prices come down. At what point do they finally garner a committed buyer?...


FULL STORY: https://atlanta.curbed.com/2019/1/7/...-sold-for-sale

SOURCE: Curbed Atlanta

[citidata18]

To be clear, the inventory shortage is for entry-level homes less than $250K to $300K

If we're talking homes of over $500K, then most buyers who would be interested in the property have been priced out.

[20yrsinBranson]

Clearly people in Atlanta have lost their minds. If this were Orange County I could understand these prices, but you couldn't pay ME $599,000 to live in that 1920s bungalow in that town. Just how much do they pay people that they can afford this kind of housing? No wonder our tax money is being wasted subsidizing houseing for low-income people. This is just INSANE.

[GatorsZ71]

Originally Posted by 20yrsinBranson

Clearly people in Atlanta have lost their minds. If this were Orange County I could understand these prices, but you couldn't pay ME $599,000 to live in that 1920s bungalow in that town. Just how much do they pay people that they can afford this kind of housing? No wonder our tax money is being wasted subsidizing houseing for low-income people. This is just INSANE.

Why do you care? You are in Missouri! Any home within walking distance to Piedmont Park is a hot spot to live! Winter time is usually the low season to purchase, those homes will probably sell when spring/summer get here.

[citidata18]

Originally Posted by GatorsZ71

Why do you care? You are in Missouri! Any home within walking distance to Piedmont Park is a hot spot to live! Winter time is usually the low season to purchase, those homes will probably sell when spring/summer get here.

That poster does have a point though.

I get that intown Atlanta is highly sought after right now, but when the median wage in Metro Atlanta is only $65K to $70K and you're not getting a lifestyle quite as sophisicated as what you find in places like NYC or Chicago nor the sq. ft./acreage you find in some place like Forsyth or Coweta County, $900K is quite a lot for a seller to ask for.

Combine all of that with the rising interest rates as well as a slowing economy and it's not unreasonable to assume prices may be due for a correction.

[aslowdodge]

Originally Posted by GatorsZ71

Why do you care? You are in Missouri! Any home within walking distance to Piedmont Park is a hot spot to live! Winter time is usually the low season to purchase, those homes will probably sell when spring/summer get here.

It’s an open forum and being a resident of any area is not a requirement to participate in any discussion.
I get the same response as what you just posted when I post in California forms. Even though I don’t live in California now , I visit multiple times a year and moved away from California just 3 years ago and still have friends and family there . So what happens there is if interest to me.

[AnsleyPark]

Originally Posted by 20yrsinBranson

Clearly people in Atlanta have lost their minds. If this were Orange County I could understand these prices, but you couldn't pay ME $599,000 to live in that 1920s bungalow in that town. Just how much do they pay people that they can afford this kind of housing? No wonder our tax money is being wasted subsidizing houseing for low-income people. This is just INSANE.

It is not insane at all. It's a matter of supply and demand. Pretty straightforward. And, there are plenty of folks in Atlanta who can afford a whole lot more than this bungalow. Plenty.

[lorilove]

If you can afford the price range and that is how you choose to spend it - then fine. There is nothing wrong with paying $599,000 for an intown bungalow or $599,000 for a suburban mega mansion.

The only thing I find silly is paying $599,000 for anything you cannot afford and being highly leveraged or living paycheck to paycheck

[samiwas1]

I think most people paying that much for a house are interested in being able to park in a driveway, and more likely a garage. The first one is a beautiful house, but it's a one-car driveway with a small carport. The second one has some sort of parking pad in the back yard accessed through a narrow gravel alley in the back yard. The third one has no parking on the lot, and a no-parking sign on the street in front of the house. The one in the high rise is kind of surprising, although that's getting close to a million dollars. The last one is also fairly surprising given that it's under $400k with a really nice yard in a decent area, but it is a 2/2, which are harder to sell, and I think a single car parking pad.

I think the market for $600k+ houses may just be tapped out now. Everyone with that kind of cash to throw around has already made their move, and these houses may just not have the features that appeal.

[Iconographer]

Originally Posted by AnsleyPark

It is not insane at all. It's a matter of supply and demand. Pretty straightforward. And, there are plenty of folks in Atlanta who can afford a whole lot more than this bungalow. Plenty.

It's as simple as that.
I figured that this thread would be irresistible to trolls. Missouri. HA.

In my former neighborhood of North Druid Hills, the inventory priced <500K is still hotter than a firecracker, usually turning over in less than a month. Anything over that seems to be taking considerably longer than three years ago, however.