Kingswood in Buckhead; Most Expensive Zip Code in Atlanta
-This is a transcript from Go Gaddis Radio to listen to the episode click here-> https://on.soundcloud.com/hZfhU
Country in the world, the red, white, and the blue.
I'm an American. I am right the right to be free. I think I call America. I said if we hit land,
welcome back to the fourth and final segment of Go Gettis Real Estate Radio on this fine Saturday morning. By the way, A couple of days from now, we celebrate the 4th of July. I should have wished this to you earlier in the show, but I wanna wish you and yours a very fun and happy, and most importantly, a very safe weekend as we celebrate the founding of our nation.
I know there are two sides to every coin. I know there's people who love the United States, and I know there's people who. Don't love it the way I think they should. And all I wanna say is this, even though we have a certain level of dysfunction, and we certainly have a lot of dysfunction in our government and a lot of the programs and our spending is out of control.
The reality is I feel very fortunate to be am, be an American. I know my private property rights are protected. As an American citizen, I know I have the right to earn a good living. I certainly have to pay taxes. But the reality is, is that the taxes that I pay provide a lot of support and infrastructure and all the things that we need.
I am not giving an opinion as to whether or not the government spends money wisely. What I'm telling you is some of what the government spends. Winds up benefiting with me. So I am proud to be an American just like Lee Greenwood, and I wish all of you a happy, happy, and safe 4th of July in this segment in our neighborhood Spotlight Kingswood in Buckhead.
We don't feature neighborhoods in Buckhead very often, and I'm excited about this. And what is the most expensive zip code in Atlanta? Be thinking about your zip code. And whether or not it is the most expensive in Metro Atlanta, I'm gonna tell you exactly where that zip code is. Don't forget, we wanna talk, we want to, we wanna connect with you.
We wanna get to know you. Go to go Gaddis radio.com. That's G O G A D D I S radio.com. You can ask questions that we answer on air or off air. Either one's fine with us. You can make comments. You can push back, you can share your ideas with us. You can request your neighborhood, be featured in our neighborhood spotlight just like Kingswood and Buckhead, and you can subscribe to our podcast.
We're available on every major podcasting platform. And right now if you go to Go Gaddis Radio, you will also have the opportunity to preregister for our investor seminar that will be held in the month of August. If you have thought. Long and long and hard about becoming a real estate investor, but you've never had the confidence, never had the guts to pull the trigger and jump into it.
And I'm not saying by the way, that right now, today is the right time to start as a real estate investor. But I will tell you this, if you wanna become a real estate investor, now is the time to start to better understand it. So when the market provides opportunities, which it most certainly will, You'll be ready for those opportunities.
Go to go get us radio.com. I forget the exact heading. Let me run over here and see. Let's see, uh, oh help. If I could spell. So, um, the, just click on the link that says, hang on a second. Come on. Here we go. Free investing webinar. And we're gonna do it twice in the month of August. We don't have a specific date for it yet, but don't worry, we're gonna do two different times.
So no matter what, no matter what your schedule is, you'll be able to attend one of those. So go to go Gaddis radio.com in our neighborhood spotlight this week. We are. Featuring the neighborhood Kingswood Kingswood is in the heart of Buckhead. If you know where Pace Academy is, Kingswood is right across from Pace Academy.
It's in Buckhead, which is in Fulton County. Take I 75 North from Atlanta to exit 2 55 to Northside Parkway. You turn right onto West Paces Ferry Road. The neighborhoods on the left. You use Castlegate Drive to enter the neighborhood. Let's talk just a little bit about Kingswood because uh, got some interesting history.
Kingswood is centrally located in Buckhead. It's easily accessible from West Pace's Ferry. It's an enclosed neighborhood, which is a big deal down there, which means there's no through traffic going through the neighborhood, kids and walkers and runners and families alike. Enjoy those quiet streets.
Kingswood homes are situated on generous lots, and each is unique and designed like all the neighborhoods in Buckhead. Kingswood is located near the best shopping and dining in Atlanta, as well as lots of great parks. Pace Academy is across the street from the subdivision entrance, Westminster schools, and the Atlanta International School or nearby Kingswood is served by the Atlanta public.
School system. Kingswood is less than 15 minutes to Atlanta History Center, seven minutes. Chastain Park, which is 12 minutes. Fifth Plaza, which is 15 minutes in the High Museum of Art, which is 15 minutes. Gotta go to the High Museum of Art sometime again soon, less than 20 minutes. To Lennox Mall. Lennox Mall, Piedmont Park, and one of the Path 400 access points.
That Path 400 Access point is a multi-use paved path system that follows 400 through Buckhead. It features parks and public art and. Special events along the trails, 5.2 miles. Path 400 is part of the Buckhead Collection, an interconnected network of parks, trails, and green spaces. All. Would the aim to make Buckhead a more vibrant place to live, work, and play?
I don't know about you, but I want to go down and check out Kingswood. Each week we pick one specific metro Atlanta neighborhood for the reason of calling out CRI critical changes to help you know, as a homeowner in that neighborhood whether or not you might have a particular advantage when it comes to selling your home.
In 2020, there's a total of 162 homes in the tax record in Kingswood. Uh, probably a few more, a few less. I'd never see those numbers being exactly right. In 2020 there were 11 homes that sold. Those homes took 168 days on average. I can't even imagine having to wait a half a year to sell my house, but that was the reality of the market in that area.
At that time, the average sales price was. 1.917 million. Listen to this, the. Low sales price was 830,000. The high sales price was over 3 million bucks. Home sold for 93.9% of their list price. In 20 21, 6 homes sold less than half, or around half of the ones that sold in 2020. That took 63 days. That's a third of how long it took.
In 2020, the average sales price dropped from 1.9 million to 1.881 million. It dropped about 30,000. High sales price, 2.75, 2.775 million. Low price, 1.260 million. In 2022, there were 10 homes sold, took 57 days. Days on the market are still continuing to drop. Average sales price, 2.3 million, 2.3 million. Low, 1.288 million high, 5.6 million.
I don't know about you, but I'd love to see the. 5.6 million home. There are currently four homes for sale in the neighborhood because in the last 365 days, eight homes sold. I know I just told you that 10 sold in 20 20, 20, 20 22, but we're just looking back. The prior 12 months, eight homes sold. If you have four listed, that means you got six months worth of supply.
Now what does that mean? It means it is at the low end of a buyer's market. If you have under four months worth of inventories, it's a seller's market. Four in five months worth of inventory. It is a balanced market. More than five months worth of inventory, it is easing into a buyer's market. Now, I'm not saying as a buyer you could go in and take advantage of sellers in this neighborhood.
What I'm telling you is it'll take on average six months to sell those four homes, and that could have some of the sellers being more motivated to negotiate with you. So if you're looking for a home in the. 1.3 million to 6 million range. Kingswood and Buckhead could be the place that you want to look.
Average home in 2009 at the, basically the start of the recession was $985,000. Today, that two point. Three oh 6 million value means that those 162 homeowners have increased their net worth or the equity in their home. 214 million. That is quite significant. If you are the type of parent who doesn't wanna run monkey around with your kids' education or the school's effect on home values, you need to order a school temp report.
Go to Go Gaddis radio.com, click on School chimp. Put in a little information. We'll either compare. One high school to another or one high school to the average of all high schools in metro Atlanta. It will be a fantastic report that you will love. It'll also give you all the demographic information you're looking for.
How, what percentage of the homes are occupied by the homeowner compared to renters? Um, what's the educational attainment of parents? What's the average size of the home? Average age of a home? A lot of stuff you'd like to know before you buy a home in a particular school district, and it'll give you all the real estate information.
Average sales price, total sales days on the market, all that kind of stuff. Go Gaddis Radio is where you get it. School Chimp is what you're looking for. If you are looking to buy a home now and you are not finding what you want, it could be that you need to switch websites. Wherever you're looking, however comfortable you are, could be that you need to switch over and search.
Sure. MLS, s u r e m l l.com. Have you ever wondered what the most expensive zip code in Greater Atlanta is? A listener question from Albert in Atlanta. What is the most expensive zip code in Atlanta? Let me tell you, back in November on this show, we did a segment on how much you need to earn to buy a house in Atlanta's most expensive zip codes.
We learned that with a median home value of 1.47 million at the time, and the typical 30 year fixed mortgage rate at 6.8%. The typical payment for a new mortgage in the 33 27 zip code was more than 8,700 bucks a month. Try that on for size Atlanta. That translates to a minimum annual income to live in that area of 350,000.
Well, Atlanta's most expensive zip code. Is 30 0 3 27. It covers buckheads wealthiest neighborhoods and remains Atlanta's most affluent zip code. Since we just did our neighborhood spotlight on a butt Buckhead neighborhood, we thought we would delve a bit further into this greater Atlanta area. Other important neighborhoods in the area include West Peachtree Battle PEIs, and, uh, pleasant Hill Buckhead embodies the legacy of Southern Elegance where old.
Gracefully meets the new. In Buckhead, you'll find everything from historic homes, new and traditional and contemporary town homes, condos, high-end designs, all of that good stuff. B Buckheads history dates back years and years and years. It was the, it was originally occupied by the Cherokee and Creek Indian Tribes.
The area was later occupied by Andrew Jackson's military, and in December of 1918, as John Ottley described in his book, Atlanta History for Cocktail Parties, um, 202.5 acres was deeded to Henry Irby. On now in December for $650,000. Buckhead is a great area. 3 0 3 2 7 is the zip code you wanna live in, if you wanna be in Atlanta as well via zip codes.
I appreciate you sticking with us through another week's edition of Go Gaddis Real Estate Radio. Happy 4th of July. We'll see you next Saturday. Have a great week, Atlanta.
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