As the largest city in Georgia and a major hub for economic growth, Atlanta has experienced a steady rise in housing prices over the past few years. From 2020 to 2021, the median home sale price surged by 13.3%, proving that Atlanta is an attractive market with growing demand.
The cities in metro Atlanta have seen varying levels of appreciation, as well. For example, Alpharetta had an impressive 24% increase since 2020 and Dunwoody’s median sale price reached $400,000 for the first time ever in 2021. The suburban areas around the city are becoming increasingly attractive to homeowners due to their proximity to parks and schools, making these areas competitive and driving up prices even further.
To get a better picture of what’s currently happening within the market, let’s take a look at some of the most popular neighborhoods in Atlanta. Buckhead-Sandy Springs is one of the most expensive regions in the entire state – with average prices reaching up to $800,000 – although it still remains desirable due to its multitude of amenities and easy access to downtown Atlanta. Elsewhere in town, East Lake Terrace saw a 19% increase in housing prices between 2020 and 2021; this area offers convenient access to many health care facilities while still remaining relatively affordable compared to similar neighborhoods.
Overall, it seems clear that demand for housing is at an all-time high throughout metro Atlanta – which could be attributed both to an influx of new residents moving into the region as well as higher costs associated with renting versus owning property. There are currently no signs of this trend slowing down anytime soon either; if anything, it appears that pricing will continue increasing across multiple neighborhoods and suburbs near the city center until more homes become available on the market or affordability becomes a real issue for potential buyers.
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