The Aqua Auction that took place on this past Saturday successfully sold 16 of the 20 homes that were auctioned. Two of the initial 20 that were scheduled to be auctioned were held back, probably due to the fact that the bids were getting so low the developer elected to remove them from the que.
Sold prices ranged from $182,000-$211,000 on the 1 bedrooms (one of the one bedroom homes didn't sell, even at an auction price of $179,000) and the 2 bedrooms sold between $251,000-337,000. The 2104 sf 2 bedroom with a starting bid of $349,000 received zero bids.
Overall, the actual sold prices ranged at between 1-34% of the starting bids, with the majority at the lower end. The good news is that there is now another new construction building sold out, and less inventory on the Atlanta market.
