Metro Atlanta's real estate market offers diverse housing options that cater to various lifestyles. Booming tech industries and a thriving arts scene have propelled Atlanta onto the global stage, attracting talent and visitors alike. Healthcare and bioscience industries also flourish, supported by renowned research institutions. The city's diverse economy, coupled with a favorable business environment, positions Atlanta as an attractive destination for various industries.
This growth has expanded in all directions outside of the city limits. Cities such as Milton, Cumming and Alpharetta have seen an increase in average sales price on single family homes (SFH) of 31% since 2022. The same cities have seen a 44% decrease in the number of homes sold during the same time period due to the inventory challenges most areas are facing.
In the City of Atlanta, the condo and townhome market experienced an increase in sales price of 18% while the number of units sold decreased by 44% over the past two years. The average sales price in the SFH market in all price ranges increased by 11% while experiencing low supply with a 39% decrease in units sold.
I am optimistic that appreciation in residential real estate will continue for many years to come albeit at a slower, more normal pace. With mortgage rates working their way back to a typical range and homeowners experiencing changes in lifestyle, more inventory will appear and the frenzy will diminish. Atlanta and the surrounding areas will continue to be a great opportunity for real estate investment.
Nancy Meister
-Broker
