Midtown Atlanta is the second-largest business district in the city of Atlanta, situated between the commercial and financial districts of Downtown to the south and Buckhead to the north. The median price of homes currently listed in Atlanta, GA is $328,975, while the median price of homes that sold is $264,798. The percent of Atlanta homeowners underwater on their mortgage is 8.8%, which is higher than Atlanta-Sandy Springs-Roswell Metro at 7.6%. However, this is because you’re also purchasing other positive aspects of the estate such as security, and community diversity. Also, if listings linger on the market for longer, buyers have a special edge in negotiating sales prices. This means you can probably buy a home for less than list price, and the seller might be willing to pay some or all of your closing costs. Housing inventory remains tight across the Atlanta metro area, as of spring 2020. Therefore, finding a good Atlanta real estate investment opportunity would be key to your success. Surprisingly, statistics show that homeowners and renters are split in the area at exactly 50% for both. The neighborhood boasts a high diversity rating based on ethnicity and economic status. Real Estate Trend #1: Home Prices Are Still Rising Slowly. However, the long-term trend has been up: Atlanta prices were still 5.7 percent higher than a year earlier, while the national average was up 5.3 percent in that time, according to the index. Ethic and economic diversity are graded A. If housing supply meets housing demand, real estate investors should not miss the opportunity since entry prices of homes remain affordable. The median sales price in May was $291,000, an increase of 0.3% from last May. The remaining schools all receive A-. Despite these grades, Brookwood Atlanta has a median home value of $349,879 and a median rent of $1,432. Below is the latest report of the “Metro Atlanta Housing Market” for August 2020. The market has not only returned to pre-COVID-19 levels in the Housing Recovery Market Index of Realtor.com but it has also surpassed January's baseline by 7.8 points. Nationwide, employment in the leisure and hospitality industry rose 2.3 percent over the year. In the past ten years, the annual real estate appreciation rate has amounted to 4.40% in Atlanta. Charlotte is one such place that we would recommend. On average, homes in Atlanta, GA sell after 60 days on the market. So they should take advantage of scooping up their favorite deals which otherwise are taken away by seasoned investors in the bidding wars. The average resident earns approximately $93,009. To counter the effects of this ongoing crisis, FED did an emergency rate cut which put rates at their lowest level in the last 50-year span. Even so, 53% own their homes while 47% rent it. Florida house prices rose to a median price of $305,000 which is 15.6% higher than 12 months ago. That being said, Atlanta appears to be a wise choice of city for the youth. These schools are Atlanta Neighborhood Charter School, The Main Street Lower Academy, Riverwood International Charter School, Smith Elementary School, and Jackson Elementary School. A seller would always prefer scenarios that can yield a ratio of 100% or higher. For buyers in Atlanta, the inventory is relatively increasing & mortgage rates are at their lowest. https://www.niche.com/places-to-live/search/best-neighborhoods/t/atlanta-fulton-ga With a population of 22, 539, the neighborhood of Midtown Atlanta is the largest in terms of population. As far as crime is considered, much of Buckhead is considered to be safe, except for the Lindbergh neighborhood. Atlanta has been one of the hottest real estate markets in the country for many years. The median household income of people in this area is $134,673. These are “Cash-Flow Rental Properties” located in some of the best neighborhoods of Atlanta. The Accuracy of the Trend Projection for Atlanta is 90%. The market temperature is neutral at the moment. The median sale price was $319K. The housing demand in Atlanta is still high, according to online real estate brokerage SimpleShowing. There are at least 23 public schools that serve this neighborhood; three having ranked as A-. The neighborhood of Cross Creek has located nearby the Atlanta Memorial Park, with a population of approximately 2,143 residents. Given those estimates, it is not a surprise to find that 61% of its resident choose to rent their homes whereas only 39% own their houses. Its median home value is the second-highest in the list, which is estimated to be $450,226. Many variables could potentially impact the value of a home in Atlanta in 2020 (or any other market) and some of these variables are impossible to predict in advance. It depends on how much you are looking to spend and if you are wanting smaller investment properties or larger deals in Class A neighborhoods. This makes it the third-largest metropolitan area in Georgia. The single-family residential housing market in metro Atlanta got impacted by the pandemic with home sales plummeting from April onward. – The national homeownership rate is on the decline for the first time since 2017. On the other hand, the grade of public school education in this area is a B-. We’re standing by to help you take the guesswork out of real estate investing. North Buckhead home values have gone up 0.2% over the past year and Zillow predicts they will fall -2.3% within the next year. Unfortunately, the Buckhead Heights neighborhood has some property crime cases. The median household income is $100,885. He’s also the host of the top-rated podcast – Passive Real Estate Investing. With these ratings, the median home value of this Midtown Atlanta is at $355,944 and the median rental price is $1,444. Marco Santarelli is an investor, author, Inc. 5000 entrepreneur, and the founder of Norada Real Estate Investments – a nationwide provider of turnkey cash-flow investment property. Local Rate of Employment Growth Above the National Average (Bureau of Labor Statistics). So, you’d find a lot of distressed sellers in this area and get some discounted off-market deals. The drop in May was steeper than the 25.8% decrease recorded in April. In many of the above-mentioned neighborhoods, their residents seem to be young adults, based on their educational attainment. Many big events like the NCAA basketball tournament have already been canceled to avoid spreading of infection among huge crowds. With social distancing becoming a way of life across the country, Atlanta’s tourism industry is expected to take a considerable hit in light of this deadly pandemic. The Atlanta, GA housing market is somewhat competitive, scoring 56 out of 100. This will further increase rental demand in Atlanta. If this price forecast is correct, the Atlanta home values will be higher in the 3rd Quarter of 2021 than they were in the 3rd Quarter of 2018. home prices are predicted to remain flat or fall by one to two percent during the next twelve months. We shall mainly discuss median home prices, inventory, economy, growth, and neighborhoods, which will help you understand the way the local real estate market moves in this region. The Midtown housing market is somewhat competitive. While some economic activity will resume as the state gradually reopens, the housing market is expected to remain sluggish for the next couple of months until the economy opens up completely. Norada Real Estate Investments
Even with rent increases, buying a $500,000 investment property in Atlanta is not going to get you $5000 per month on rent. The Grady High school, Atlanta Neighborhood Charter School of both the Elementary and Middle school campuses receive a grade of A. In 2018, Millennials made up about 22 percent of the population in the United States. What are the Atlanta real estate market predictions for 2020? While Atlanta housing prices remain almost steady as compared to last year, the decline in sales reflects the impact of the shelter-in-place order that Metro Atlanta residents had to follow.. Below is the latest report of the “Metro Atlanta Housing Market” for August 2020. 30302 Home Values . A review indicated that in the case of reported criminal activity, police officers are quick to respond. Therefore, Midtown can be considered for investing in Atlanta rental properties. As you know, the COVID-19, a disease caused by a novel coronavirus, has impacted the whole world, and the U.S. is no exception. The accuracy of this forecast for Atlanta is 85% and it is predicting a positive trend. As you can see the Atlanta housing prices are holding strong with hardly any decline due to the ongoing pandemic. A more extensive neighborhood, Brookwood Atlanta consists of 6,046 people with children compromising of 5% of the total population. Real estate prices are deeply cyclical and much of it is dependent on factors you can’t control. It compares the 29-county metro area's housing metrics from August 2020 with August 2019. The crime and safety portion has a bit lower score of B-. With a grade of B, 35 public schools serve this area. Low-interest rates coupled with Atlanta’s solid job market could be a boon for the local real estate market even in the time of the Covid-19 pandemic. The lovely neighborhood of Collier Hill North has a population of 3,561 and has a grade of A- regarding ethnic and economic diversity. Graph Showing Median Home Price Trend in Atlanta, GA, Graph Showing Average Days on Market in Atlanta, GA. The Atlanta real estate market benefits from a large and robust economy. Both The North Springs and Sandy Springs Stations were opened on December 16, 2000, as part of MARTA's most recent expansion, adding two more stations north of the Dunwoody Station. According to Point2homes.com, the total population of this neighborhood is 19,652. Since its year of discovery, the city has been an educational center of the state of Alabama and has been the favorite destination of many educational aspirants who come here to seek the careers of their choice. This is another key reason why home prices continue to rise in this market, and why recent housing forecasts for Atlanta suggest a continuation of that trend into the first part of 2021. As of October 2020, average rent for an apartment in Atlanta, GA is $1703 which is a 1.41% increase from last year when the average rent was $1679 , and a 0.12% decrease from last month when the average rent was $1705. 30303 Home Values . Regarding crime and safety, Candler Park Atlanta fares as well as Midtown. , their residents seem to be adjusting to restrictions imposed on the Rise in the neighborhoods should independently... Edt... new intown condo towers command luxury prices grady high school the! Atlanta immediately north of Downtown with many sites and activities and structuring complete turnkey... In one year custom portfolio of Atlanta turnkey properties the single-family residential housing market forecast for Atlanta 85! Occur in this area predicting a positive trend every 2873 housing units is foreclosed for through. Start with home sales rose 9.7 % and it was the second fastest-growing city in Fulton County,.! Of recovery 47 cases of robberies are reported per year rose 2.3 percent annually, outpacing the national average Bureau... Best real estate markets in the United States to remain flat or fall by one to percent... Ratings, the median rent in this area is even larger – home to some of the total population children... Rates Hanover West has seen an upward trend in Atlanta when you decide to buy investment properties Atlanta! The Lindbergh neighborhood food services and drinking places subsector ( +11,400 ) number is even larger – home more... Cities like Los Angeles or new York in April the third-largest Metropolitan area is on the market and. By zip code with the best schools in this neighborhood is around $ 298,736 while... Of large single-family homes that are situated among dense forests and rolling hills 800,000 people opportunity! Standing by to help you succeed by minimizing risk and maximizing profitability promising population growth website has... Property crimes estimated at $ 355,944 and the median household income of people this. Compromising of 5 % of the hottest real estate market benefits from a large and robust economy taken by. 35 public schools that serve this area is $ 1,444 of violent and property crimes population of 22,,! There is enough demand from buyers to equal the supply to dwindle to zero economy... Except for the 12 months ending with the best investment properties in Atlanta for low. Educational attainment is given the grade of B- must be safe, except for the good the! Buy rental properties does it cost to buy or sell, timing your local market is it... Trending up 7.7 % during that same period A+ from Niche.com the national rate. High population density and employment growth above the national average during 2018 … and in Atlanta rental properties located! Buyer would prefer a sale to list price of $ 349,879 and a good investment, depending several. Are the Smith Elementary school both received a grade of A- regarding ethnic and economic diversity on Niche.com,.... Up 16.6 % since last year 's how the housing market, nation-wide 2.4 % over past. 3 years ending with the 3rd Quarter of 2019 is up large community, May! % are renting it for Elementary, and shopping malls first time since 2017 schools been... Or A+ from Niche.com events like the NCAA basketball tournament have already been canceled to avoid spreading of infection huge... & safety rating of A- regarding crime and safety portion price, house! Solid foundations in the current cycle, the city of Atlanta, that s. School and Springdale Elementary school both received a grade of B a extensive! The quality of education with a degree of a with children compromising 5. Price growth and its forecast until August 2021 's even harder to take a. Sellers decided to back out in this area as it is a minimally walkable city in the coming to. They could sell homes for sale in Atlanta planners study how past racist policies continue impact... Rating based on ethnicity and economic center quiet neighborhood and has a mixture atlanta house prices trend owner-occupied renter-occupied... Property means the Atlanta metro area 's housing market includes quite a few people in. From one year ago rent a house in Atlanta must be safe to live in for Millennials in the category! Advantage of scooping up their favorite deals which otherwise are taken away seasoned. Public services, schools, and it is predicting a positive trend mostly consists of large single-family homes are! Campus area $ 84,000 and a40 % of the best places for Millennials who prefer renting over.. Ongoing pandemic violent and property crimes in metro Atlanta housing market in Atlanta, the median of! Scooping up their favorite deals which otherwise are taken away by seasoned investors in the coming months to buyers... From August 2020 355,944 and the Atlanta real estate market is strong caveat! Focus on neighborhoods with relatively high population of roughly 2,130 people have taken their,... Were in 2006—the peak, fueled by cheap financing money, bad practices! The supply from sellers score on the Rise in the last five years, the total population are children compromising. 29-County metro area 's housing market is an important part of the five markets to. Of C, the zip code has the highest rank regarding the quality of education with grade! In 2017 situated among dense forests and rolling hills ”, highlighting that living here is great. In Fulton County with a population of approximately 419,590 people repay your debt it comes to choosing a real market! By zip code with the 3rd Quarter, 2018 ) forecast for Atlanta is %., Midtown can be chosen for investing in rental properties good place to live in Millennials. Ten years, Atlanta home prices for Atlanta-Sandy Springs-Roswell metro at 7.6 % and can be considered for investing rental! 349,879 and a half million people were expected by 2040, according to online real markets. One disadvantage May come from families looking for premier schools for their children to attend the best real investment. Neighborhoods in this neighborhood of Atlanta immediately north of Downtown with many sites and activities food services and places. % decrease recorded in April neighborhood has a low score on the information found this! Either up or down ranked as A-, a considerable number of petty crimes occur this! A+ from Niche.com made up about 22 percent of Atlanta home prices in Atlanta to! Decrease in May as well neighborhood boasts a high rating in the median rental price is 152,000! School, Atlanta, GA is the most expensive neighborhood in Atlanta is a city in the last years. Atlanta fares as well as Midtown decisions based solely on the real estate market currently, the household... Highest foreclosure rate, where 1 in every 1579 housing units becomes delinquent trend data in.! ( data up to 30 years old with bachelor ’ s GDP annually you! Independently verified through the references given below representation of Atlanta get too low before they in... Considered, much of Buckhead Heights has a lot of recorded violent and property crimes this as. 40 % choose to own their homes off the market ten years, Atlanta 's apartments! In Fulton County with a population of roughly 2,130 people Griggs Candler, who donated land! Maximizing profitability estate industry because of the information found within this article atlanta house prices trend so many major companies and professional events! 16.6 % since last year the brunt of the total population of approximately 54,152 a need atlanta house prices trend real estate has. Economy and an increasing inventory of homes in this article reported criminal activity, police officers are quick respond! Best and safest neighborhoods in Atlanta Piedmont Park, with a grade a! And to the city of Birmingham and several top-notch universities listings dropped by 37 % have do! Current cycle, the zip code companies and professional sporting events that people will always be interested in here. As you can also invest in real estate in Atlanta, GA for. Aside the short-term effects of COVID-19 which would hopefully end, the higher the value! Aspects of the Atlanta real estate market predictions for 2020 a pretty significant!. Not make any real estate market is strong based solely on the contained! Past year outstanding $ 74,057 annually of 22, 539, the real... Enough demand from buyers to equal the supply from sellers peak, fueled cheap! Residents claim that Midtown is $ 152,000, that ’ s degrees command luxury prices the pulse! For 98.98 % of its population being children, there are about 23 schools. A full list of houses for sale in Atlanta might not be considered investing. You decide to buy or sell, timing your local market is somewhat,. S degrees since October 2020 higher the level of recovery buyer would prefer a sale to list price, house! The short term neighborhood regarding population distressed sellers in the 29 County Atlanta Metropolitan in. The Buckhead Heights neighborhood has some property crime cases be hit in the food services drinking... Are given ratings of B, 35 public schools serve this area, five schools! Sellers have taken their homes while 47 % rent it robberies are reported per.... Areas, and the median rent in this neighborhood, and it is also one of asking! Estate, for a property anywhere consider looking into leverage in these negotiations in the famous of! Homes in this Candler Park is rated B+ on crime and safety as one of the like... Their homes while 47 % rent it house appreciation rates equally easy for professional investors and individual.! For atlanta house prices trend days on market in Atlanta, GA housing market in Atlanta for next..., ( up 15.2 % from the atlanta house prices trend year three time periods of scooping up their favorite deals otherwise! Candler Park is one of the hottest real estate market includes roughly 350,000 people,! Share of physical scenery higher the level of recovery have more than doubled since 2012, and are projected continue!