24 Feb New Condos Still in High Demand in Downtown Atlanta

According to Curbed.com, officials are calling 2013 a “banner year” in terms of condo sales, especially at the Residences at W Atlanta. A total of 42 homes sold last year, pushing the Residences at W Atlanta – Downtown past the 75-percent sold milestone after years of sluggish activity. With just 74 homes available, the sales number is quite impressive.

Demand for new construction condominiums in downtown Atlanta was quite robust in 2013, which could signal a high demand for available condo products Intown. We have seen evidence of this with two of our intown properties as well – Sky Lofts, which is 85% sold, and The Washington at Historic Westside Village, which sold out in late 2013.

National media took note of the resurgence in Atlanta’s luxury condo market in August. The Wall Street Journal reported Atlanta had been dragging a nine-year inventory of luxury condos back in 2008. That inventory had shrunk to six months by August and is likely even lower now.

What do you think? Are new condos back in high demand in Atlanta? Share your comments below!

image courtesy of atlantarealestateforum.com