What can we learn here?
- If you don’t DIG for the full story, you could easily make decisions based on flawed assumptions.
- If you are off on the List Price, all that dazzling marketing will be wasted and the property will sit on the market.
- If it is new construction, there is a case to be made for not listing the property until construction is complete.
When you view the property below through the listing on the First Multiple Listing Service, it shows this property had 9,383 square feet, closed on July 31, 2025 and sold for 100% of List Price at $4,999,999 in 59 days. What else is there to know?
The FMLS Archives
A glance at the FMLS archives shows that this property has been on the market since April of 2024 beginning with a List Price of $5,399,000. The property was on and off the market several times from that time through March 2025. There was then a gap of more than 30 days which disconnected the history on FMLS. Total time on the market would at least be the total of the two listing periods or 384 days. If you add the 46 day gap, the total days on market would be 430 days. Given the original listing data, the actual Sale Price to List Price ratio ended up being 92.6% rather than 100%.
Since this was a new build, perhaps the lesson here is to wait and list the house once construction is complete rather than listing it as soon as construction begins. $5.4M was also not getting traction with the buyers.
Zillow Data
Once a property sells, I cannot find any specific days on market number showing how long it was on the market. You can drill down into the history though and follow the journey manually.
The history below is fairly straightforward. Given the sale price, it looks like there was a definite effort to keep the final price under $5M for some reason.
About that Zestimate
I have a hard time with Zestimates in the Atlanta market because the square footage numbers are so unreliable and renovations are not factored in. The algorithms can be much more accurate in suburban settings with more consistent housing stock. Setting that aside, its also hard to trust the Zestimates when they bounce up suddenly when properties are listed for sale. This was a new build so the Zestimate value began with the first list price.
What about the Square Footage?
This listing stated that according to the Builder the size of the home was 9,383 square feet.
- The above ground main finished floors area = 6, 990 sq. ft.
- The basement (total) = 3,118 sq. ft.
- Finished area in the basement = 2,393 sq. ft.
- Price per sq.ft. based on primary above ground floors = $715 / sq. ft.
- Price per sq.ft. based on total finished area all floors = $533 / sq. ft.
Bottom Line
When hiring a real estate advisor to help you with the sale of your luxury home in Atlanta, make sure the people you are interviewing are thoroughly researching the comparable sales and are giving you accurate assessments of what it took those properties to sell so you can make well-informed decisions on yours.
Interested is discussing your specific situation? [CONTACT ME HERE]