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Report: From Buckhead to 04W, The Market's Hot

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For any Atlanta denizen with two working eyeballs, or even a single eyeball that's moderately operational, it's clear that the real estate doldrums of 2009 are all but ancient history. Cranes! Backhoes! Churned red earth — yessir! And while the intown market isn't enjoying the sold-it-five-minutes-after-listing-it hoopla of other cities, the turnaround has been so swift it's almost startling. And, bigger picture, it's indicative of intown Atlanta's renewed appeal, as the drive-until-you-qualify mentality of house hunting continues to lose luster. To that end, Atlanta INtown paper checked in with three disparate housing developments, from the posh Sovereign in Buckhead to the Beltline-facing Highland Park townhomes (above).

At the Sovereign, where condos consume the 28th to 50th floors of Buckhead's tallest tower, prices range from $800,000 to $2.7 million. The newspaper reports that Sovereign is about 70 percent sold out, recording sales of nearly $30 million in the last year alone.

At Ansley Parkside — classic, Charlestonian townhomes near the neighborhood's eponymous mall — prices start in the mid-$400,000s. One representative told INtown Atlanta: "We've completely sold everything we have that's finished, and are currently pre-selling our next building, scheduled to be completed in July. We anticipate that we'll be sold and closed out of the entire community this year, as we only have one additional building left to construct." The development will eventually offer 41 homes.

Last but not least, at the junction of Old Fourth Ward and Inman Park, the Highland Park townhome development by John Wieland Homes has contracts for all the Beltline-facing homes under construction now, priced from the high $300,000s to $600,000s. Homes range from 2,025 square feet to more than 3,400 square feet and include two-car garages. The company is now taking reservations for future homes. Said one official: "Obviously, the appeal of the Beltline is a big draw, but more than that, buyers want to live in a truly walkable neighborhood."
· Location, location, location! Live and work where the action is Intown [Atlanta INtown Paper]