Spring Selling Season
Iconic estates, properties with abundant outdoor entertaining space and plush penthouses make for an exciting real estate market after the luxury sector’s strong rebound last year. Sales of homes more than $1 million represented the greatest percentage growth, according to Harry Norman Realtors, and prices were up 8%, based on Ansley Real Estate data from November 2020 to November 2021.
Founder and CEO Bonneau Ansley III sees a strong new build market in Buckhead with properties selling for up to $10 million. “People are comfortable spending more money in the ultraluxury space,” he says.
For example, an $11.99 million penthouse in the Waldorf Astoria Residences, a $9.87 million Lewis Crook property in Tuxedo Park and the $9.49 million, 21,000-square-foot Sterling Hall are among the most expensive listings.
The average metro area sold price was 18.4% higher in 2021 than 2020, the number of homes sold is up 3.9% and number of homes for sale is down 29.5%, according to Harry Norman Realtors. Buyer demand remains high, says Jenni Bonura, president and CEO. “Inventory shortages and potential interest rate increases will have an impact, and we anticipate that while positive, the growth rate will stabilize to a lower level than in 2021.”