As of Friday, the promotional website for a large cluster of Brookhaven townhomes called Skyland listed open houses galore at a half-dozen available properties, along with warnings that 95 percent of the community had already sold.
Three days later, developer Southeast Capital Companies proclaimed in a press release the 167-home community has sold out—just like a massive subdivision in Canton and a luxury single-family home venture in Buckhead by the same builder.
The COVID-19 pandemic’s surprising jolt to the U.S. housing industry—the 842,000 homes sold last year were the most since 2006—has been thoroughly documented, but heads of Southeast Capital Companies say the “hyper-active real estate market” in metro Atlanta could be emerging as a special case, as evidenced by the recent full-community closeouts.
Along with Skyland, the developer has recently finished selling all 974 houses at an active adult golf community in Canton called Soleil at Laurel Canyon, and the 32 deluxe homes at a new Buckhead community called Chastain East.
“This past year we anticipated the spike in sales for communities like Soleil at Laurel Canyon, as COVID fueled an immediacy for empty-nesters and Baby Boomers to leave metro areas,” said Southeast Capital Companies founder and CEO Jay Clark in the release. “What was less expected was the impact COVID has had on millennials, who up until now were slow entering the housing market.”
In development for more than five years, Skyland Brookhaven is tucked off Buford Highway, just north of its intersection with Clairmont Road.
More recent townhome listings at Skyland ranged from the $530,000s to $605,000, all with four bedrooms and more than 2,500 square feet.
The location tallies a 69 “Somewhat Walkable” Walk Score, and 43 “Somewhat Bikeable” Bike Score, with prices cheaper than more centralized areas of Buckhead and Brookhaven. (It could be a hiccup, but one townhome is still listed as “active” at $536,638.)
Following the sellouts, Southeast Capital Companies is naturally pursuing more deals in metro Atlanta. “We anticipate the strong real estate market to continue,” noted John Huckaby, the company’s vice president of operations, “as migration patterns from other parts of the country increase dramatically here in the South.”
For anyone curious what all the rage is/was about in Brookhaven, below is a 3D simulation of a model townhome at Skyland that allows for a virtual tour of all floors, as provided to Urbanize Atlanta by VantagePoint 3D founder and president Jon Showe:
• Images: Swanky Buckhead hotel opens today—pandemic be damned (Urbanize Atlanta)
• 1919 Skyfall Circle (Skyland Brookhaven)