Element Auction Shows There's Still Demand to Live Intown
Decatur Metro | March 1, 200940 Element condos at Atlantic Station went up for auction yesterday, and while the AJC seemed focused on the “bargain” prices, I was most interested to hear that all 40 condos were easily sold.
According to the article, 175 bidders showed up to bid on 40 Element condos with opening bids less than half their original asking price – though the two profiled in the article actually ended up going for more like 2/3rds the original asking price. To me this seems to indicate that the condo market is over-saturated not because of dying interest to live intown, but because property is simply over-priced.
Though it would be nice to have these condos going for insane amounts of money, its still good to see so much interest in Atlanta’s condos when the price is right.