The most expensive home in Atlanta's Old Fourth Ward is priced at $1M

Trulia computes the average listing price for all homes in Old Fourth Ward at $503,984 and the median sale price in that area at $330,300. Its records show the highest price recently fetched for a home in this neighborhood was the 2014-built town house at 545 Bishop Way, which sold last December for $875,000.

A few other homes in Old Fourth Ward have sold in the high $600,000 range as recently as March and April, but this hot spot blows past them all.

Sellers are doubtlessly pinning their hopes on the elegance and exclusivity of the 1920s-built, 3,342 square foot showplace, which commands a private double lot in the gated community between Boulevard and Central Park.

It has a European air about it, from Italian tiles and stucco exterior to the many arched entries and chandeliers. The brick barrier that surrounds it would do a baron proud, and the view of Central Park is positively regal.

However, just in the time we spent editing this story, the price was dropped by $100,000, according to its Estately listing.