Virginia Highland Real Estate Market Report for November 2011

Virginia Highland | Atlanta, GA | 30306 | Fulton County | Data extracted from the Atlanta FMLS 11/01/2011 to 11/31/2011

Single Family Home Sales in Virginia Highland Atlanta

Virginia Highland (abbreviated as "VaHi") is one of Intown Atlanta's most popular and sought-after neighborhoods. In November, the number of homes sold was down by about 40% from the same time last year, but the average sale price was very similar year-over-year, $506K vs $510K.

The good news is that the pending (or "under contract") homes are up, so we hope to be able to report a dramatic increase in sales this December.

Another interesting note was that it took twice as long to sell a home (125 days versus 65 days, on average) in VAHI in November 2011, compared to the previous November, but the list to sales price ratio wasn't seriously impacted.

More details below...

Virginia Highland Home Sales (Nov 2011 vs 2010)

Nov 2011 - 4 homes sold with an average sales price of $506,568

Nov 2010 - 7 homes sold with an average sales price of $510,285

Under Contract & Available Homes for Sale in Virginia Highland

8 homes are under contract / pending with an average asking price of $691,362

4 Short sale homes for sale

41 homes are currently for sale (active) with an average asking price of $636,554

[Current homes for sale range in price between $239,900 to $1,200,000]

Virginia Highland Home Sales – November 2011

The Nest Atlanta Real Estate Group sold this charming Tudor-style home in Virginia Highland this November...

Search ALL the homes for sale in Virginia Highland Atlanta

Townhomes & Condos for sale

Virginia Highland Foreclosures

If you are thinking of buying a home, there are still some fantastic homes for sale in Virginia Highlands -- and many are listed at prices unheard of a few years ago. In 2007, it was rare to find a home under $500,000 and now there are some gorgeous bungalows that sell in the high $300s. If you purchase something in this market, we're sure you will pat yourself on the back in a few years!

Normally I try to share GOOD news, but after reading an article in the Atlanta Jounal Constitution (AJC), I thought this is something every Atlanta home owner - and home seller -- needs to know...

From August 2010 to September 2011, Standard & Poor's Case-Shiller Home Price Indices reports that Metro Atlanta home prices fell sharply (to a new low) - which is suprising because on a national level, home values are up 0.1%.

The average Metro Atlanta home sale price was 4% lower than in was in 2000. This was the largest decline for a major US city.

I'm sure your first question is WHY???

There are several possible reasons quoted by the AJC and local real estate professionals:

• Close to 30% of the home sold in Metro Atlanta are foreclosures
• The percentage of short sales are also significant
• About 25% of home sales are to investors (so they are buying up the low price point homes and we have a disproportionate number of home sales under $125K)

Here is a bit of GOOD news:

• From January to October 2010, a total of 35,948 (single family) homes sold. In 2011 (Jan - Oct), we had a BIG spike in the number of homes sold - 41,483 to be exact
• Condo and townhome sales are also up by nearly 1,000 year-over-year

When the number of home sales increase, the inventory of homes declines and once our inventory is down, home values start to go up! Without a crystal ball, it is hard to predict when the home values will start to increase, but if you need to sell your home in 2012, please understand that the values are down. I would highly recommend that you meet with several local real estate professionals so that you will get an accurate estimate of the value of your home.

See local home prices in your neighborhood >>

Read the full AJC article >>

Virginia Highland Homes for Sale - English Tudors in Atlanta Georgia

This picture perfect Tudor style home is officially under contract in Atlanta's popular Virginia Highland neighborhood!

We couldn't be happier for the home buyers -- and the current home owners! It is truly a stunning, well-loved home.

If you are looking in the Virginia Highland / Morningside / Druid Hills area, don't worry, there are some other stunning homes (at great prices). Take a peek below...

>> View all the homes for sale in Virginia Highland

>> Morningside Atlanta homes for sale

>> Tudor-style / English Tudor homes

Questions about the neighborhood? If you would like to learn more about the schools, parks, restaurants and quality of life in the Virginia Highlands area, please call us anytime at 404.432.1844.

We lived in the VAHI neighborhood for almost 8 years and know it well!

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Posted by: Kerry Lucasse - Ian Marshall Realty - Nest Atlanta Real Estate Group

Call anytime at 404.432.1844

For more information about our team and Virginia Highland real estate, please visit:

Druid Hills Atlanta Real Estate and Historic Homes for Sale

Virginia Highland Tudor Homes for Sale

Virginia Highland Atlanta Real Estate - Foreclosures in Virginia Highlands

Homes in this culturally rich Atlanta neighborhood are very much sought after, as Virginia Highlands real estate is one of the most desirable in Atlanta. Needless to say, foreclosures are few and far between. When a foreclosure or REO property does become available, it doesn't often stay on the market for long!

The Nest Atlanta team created a web page with the latest and greatest Virginia Highland home and condo foreclosures. The page is updated several times daily, so you always have access to the latest information.

To follow are the current foreclosures for sale in Virginia Highlands, but since things are always changing, be sure to check the latest list at:

Virginia Highland Foreclosures Page

ATLANTA, GA 30306 $516,000 3 Bedrooms 3 Full | 1 Partial Bathrooms Photo Tour (8) Listing # 4258177

886 ARLINGTON PL NE, ATLANTA, GA 30306 $425,000 3 Bedrooms 3 Bathrooms Photo Tour (16) Listing # 3986654

1600 BRIARCLIFF RD, ATLANTA, GA 30306 $77,500 2 Bedrooms 1 Full | 1 Partial Bathrooms Photo Tour (20) Listing # 4215533

VIEW ALL THE HOMES & CONDOS FOR SALE IN VIRGINIA HIGHLAND

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Posted by: Kerry Lucasse - Ian Marshall Realty - Nest Atlanta Real Estate Group

Call anytime at 404.432.1844

Atlanta Craftsman Bungalows - Atlanta Foreclosures & Investment Homes

For more information about our team and Atlanta real estate, visit: