Updated: May 29
Where to start?
Navigating through the real estate market can be a daunting task for prospective buyers. With an array of listings and fluctuating prices, having a clear understanding of the market becomes imperative. In this guide, we will dissect the housing landscape of Atlanta, Georgia, and identify how you, as a buyer, can utilize this knowledge to find your dream home.
Firstly, let's address the average home price in Atlanta, which currently sits at around $564,000. Although this number may initially seem high compared to last year's average home value of $376,2841 and a median sale price of $400, it is important to note that this is merely average. Home prices in Atlanta span a broad spectrum, with properties available across a wide range of price points. As a buyer, your focus should remain fixed on finding a home that aligns with your budget and meets your unique requirements. Below you can see how the home prices in Atlanta have fluctuated over the months, and compare it to nearby cities.
Average home prices in Atlanta compared to other cities
Plenty to go around
One encouraging aspect of the Atlanta market is the steady arrival of new listings. Every month sees approximately 1,200 new homes listed for sale. This constant addition of new properties ensures that you, as a buyer, have a diverse selection of options to explore. Whether your dream home is a chic downtown condo or a spacious single-family house nestled in the suburbs, Atlanta's versatile market caters to every taste and preference.
When determining value for money, the price per square foot proves to be a valuable tool. Currently, the cost sits at $265 per square foot in Atlanta, slightly below the previously reported average of $276. This parameter can help you efficiently compare homes based on size and price, assisting you in identifying potential bargains and ensuring you receive maximum value for your investment
Moreover, the dynamics of home costs in Atlanta indicate a shift that could favor buyers. Recent reports suggest a minor drop in home prices, with the median sale price per square foot falling by 4.3% over the last year. Although seemingly insignificant, this decrease could translate into substantial savings for homebuyers and create room for more affordable property options.
Increase in population
Another key factor to consider is Atlanta's robust population growth. With nearly 100,000 people moving to Georgia in 2022 and Atlanta's population witnessing a rise of 24.78% since the most recent census, the city's housing demand seems poised to remain strong. This implies that investing in Atlanta's real estate market is a sustainable choice that can stand the test of time.
To sum up, while home prices in Atlanta might appear frightening due to their dynamic nature and rising averages, the steady influx of new listings and a small dip in price per square foot provide potential advantages for buyers. By staying informed and analyzing market trends carefully, you can pinpoint properties that perfectly match your budget and lifestyle, making your dream of owning a home in Atlanta a reality.
If you want to see Atlanta homes that are currently on the market, click HERE