Top 10 Buckhead home sales in the first quarter of 2022

Is it possible for a real estate market to be too good for its own good?

Interest rate increases have done little to dampen the Buckhead housing market during the first quarter of 2022. Instead, demand has continued to be stronger than the supply of available homes. The top 10 homes sold during the first three months of this year start at $4.5 million and increase from there! Buyers from western and northeastern states continue to add to robust local demand, resulting in an increasing number of bidding wars over homes that have the right features and are properly priced. I have seen several situations where prices have been bid up $300,000 to $500,000 above the asking price…these are the stories we used to hear about the market in NYC or San Francisco, but now it is here in Buckhead.

So back to the original question: Is it possible for a real estate market to be too good for its own good? I do not have the answer and I am not able to predict the direction of a market being driven by unprecedented circumstances. Only time and hindsight can tell, but from where we stand today, there is no end in sight.

The Stats

164 single family homes were sold in Buckhead in the first quarter of 2022. The top of the market was a $9.3 million home, while the average Buckhead home sale closed at $1.5 million.

The condo market in Buckhead is strong, with 352 sold in Q1. Condo sale prices ranged from $107,000 to $4.5 million. The average condo sold in Buckhead was a 1,439 square foot unit for $455,7167.

The Top 10

#1

4725 Northside Drive                                                                  $9,350,000

SOLD  3/25/2022
7 br / 9 ba / 3 half bath / 15,000 Sqft / 6.5 Acres  

#2

2845 Normandy Drive                                                                 $6,500,000

SOLD 3/11/2022
6 br / 6 ba / 2 half bath / 9,278 Sqft / 1.52 Acres
 
 

#3

3629 Tuxedo Road                                                                        $5,400,000

SOLD 2/4/2022
5 br / 6 ba / 3 half bath / 9,049 Sqft / 1.16 Acres
 
 

#4

St Regis, Unit 2220                                                                       $5,300,000

SOLD 3/28/2022
3 br / 3 ba /  4,451 Sqft
 

#5

3785 Paces Ferry Road                                                                $4,900,000

SOLD 3/18/2022
6 br / 6 ba / 2 half bath / 10,020 Sqft / 4.84 Acres
 
 

#6

3627 Tuxedo Road                                                                        $4,800,000

SOLD 3/14/2022
5 br / 5 ba / 2 half bath / 6,250 Sqft / 1 Acre
 
 

#7

3190 Ridgewood Road                                                                $4,750,000

SOLD 1/21/2022
7 br / 9 ba / 2 half bath / 13,530 Sqft / 2.06 Acres
 
 

#8

1724 Randall Mill Way                                                                $4,682,500

SOLD 2/18/2022
6 br / 6 ba / 3 half bath / 9,864 Sqft / 1 Acre
 
 

#9

41 Muscogee Avenue                                                                   $4,675,000

SOLD 1/26/2022
6 br / 6 ba / 1 half bath / 10,500 Sqft / 1.88 Acres
 
 

#10

St Regis, Unit 1430                                                                       $4,500,000

SOLD 2/16/2022
3 br / 3 ba / 1 half bath / 3,807 Sqft