There have been a lot of articles of late talking about the expansion of Westside Atlanta. The Howell Mill area is starting to get a lot of infill development and there is movement to open up the currently fenced off city reservoir for a new park near Atlantic Station. These developments are reaching a plateau of maturity. This is not the area we are discussing today…

 

 

The “hot new” area is the ‘New Westside‘ at the Marietta Blvd and Chattahoochee Ave corridor. The recently opened Moore’s Mill Publix shopping center has been a huge catalyst to the area jump starting as many as ten new multi-use shop/work/live/play developments. Most of these won’t come to fruition for the next 12 months but the area will be exploding by 2020.

Initial ‘new construction’ took hold at the beginning of the decade with the addition of Adams Crossing, Dupont Commons and Liberty Park The nearby mill town of Riverside has also seen a huge renaissance of change as well. We will take an in-depth look at riverside in a future Market Focus Friday.

None of these communities has more than a 2.3 month’s supply of available homes. This is definitely a solid seller’s market. If you own here and are thinking about selling, now is the best time of the past several decades to make that move, ESPECIALLY if you are buying up.

The appeal of this area is the value. The proximity to Buckhead, Midtown and Downtown allows a buyer to purchase a large home or townhome at a price-point that would only be a condo otherwise this close to the city-center. You can search these developments at BillForrest.com. Let’s see how these developments are faring:

Adams Crossing:

Currently there are no homes available in Adams Crossing or in nearby side streets. Recent market activity has seen 6 homes sold priced from 235k to 430k. The most common price-point is 379k for a 4 bedroom spacious home. Forrest & Company still holds the record for the highest price paid for the neighborhood at 430k. This was Bill’s listing at 2111 Adams Drive. Average Days on Market of 20 give this neighborhood a normal inventory of only 1.2 months. Most homes here are sold for 94% of listing price with 60% selling for more than asking price.

Dupont Commons: 

Currently there is one home available at 499k. Seven homes have sold recently priced at 415k to 479k. Seven homes have sold recently priced at 415k to 479k. Average Days on Market of 44 give this neighborhood a normal inventory of only 2.0 months. Most homes here are sold for 98% of listing price with 67% selling for more than asking price.

Liberty Park Townhomes:

Volume at Liberty Park has shot through the roof in recent months as owners have been taking advantage of huge appreciation over the past two years. Currently there are two available homes priced at 239k & 249k. These are huge townhomes for the price-point. Average Days on Market of 58 give this neighborhood a normal inventory of only 2.4 months. Most homes here are sold for 98% of listing price with 80% selling for more than asking price. Very strong numbers for a homeowner that is looking to sell. An additional catalyst for the adjacent “Altus at the Quarter” that is beginning development as we speak. This development is going to be stunning and will come equipped with rooftop terraces that will feature views of the downtown skyline and reach prices approaching 500k.

Westside Station:

This is the latest development in the area that is nearing completion of its first phases. It is a large planned patio and townhome development but BrockBuilt. It’s very architecturally appealing with the price tag to match. The townhomes can be as big as 5 bedrooms with 4 car garages. Currently, there are nine available priced from 502k to 599k. Fifteen homes are pending and twenty-one homes have recently sold in the 429k to 627k price range.

Riverside: 

This is a very diverse area of Atlanta that got its foundation as a mill town dating back to the 1800s. This section of Atlanta is a secret undiscovered area that has now been noticed by buyers. Riverside is now getting really hot and valuable. Older mill houses and 1960s ranches are seeing homes sell for 225k to 300k, new construction models for 370k to 420k and flipped houses sell for 150k to 250k pre-renovation. This is a GREAT area to invest in. Currently, there are five homes available from 179k to 419k. Average Days on Market of 69 give this neighborhood a normal inventory of only 4.4 months. Most homes here are sold for 98% of listing price with 67% selling for more than asking price.

There are so many choices to pull from at the ‘New Westside.’ Thinking about buying? How We Deliver More here.

© 2018 Forrest & Company

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