New luxury apartments in Atlanta: What to expect from the hottest property markets
Posted On August 2, 2021
Atlanta’s hottest property market has been on a roller coaster of ups and downs.
As of January, the number of properties for sale has risen to almost 6,500, up about 1,100 from a year ago, according to Zillow.
It’s still down from a peak of 8,600 in March 2016, when prices jumped by 50%.
The number of sales has been flat since April, though.
The average price is now $5.25 million, down 1.6% from a month ago.
That means a typical $2.5 million home is now cheaper than a $1.9 million home two years ago.
And the median price for a home in Atlanta has risen by more than 20% in the last year.
But if you’re not buying a home, or you’re in a market that doesn’t require you to buy a home to live, then you might want to keep your eyes peeled for some new luxury apartments, including one at the trendy T.J.
Maxx, according a report by The Wall Street Journal.
The new luxury apartment building is being built at the former site of the popular department store chain, where a large, modern building once stood.
The project is estimated to cost about $40 million, but the property’s price is expected to go up when it’s completed.
The building will include a full-service restaurant and restaurant lounge, according the report.
It will also feature a two-story penthouse with a pool and spa, according To Kill A Mockingbird author Harper Lee.
The apartments are designed by the architectural firm Mondo, and the hotel will be named after the famous novel.