Atlanta Property Values Soar as April 2024 Recent Data Reveals Robust Market Growth

May report of the Atlanta real estate market which shows consistent growth with increasing property values and price per square foot.

authorWritten by Manuel MartinezMay 7, 2024

Overview of Atlanta’s Real Estate Market Trends

The Atlanta real estate market presents an interesting study in resilience and growth amidst fluctuating conditions. The most striking trend observed is the consistent increase in property values over time. As of April 2024, we see that the average value of a property in Atlanta has continued to increase, suggesting a strong demand for real estate in the city. For anyone with a stake in the Atlanta market, now might be the right time to sell. The average property value stands at around $398k. Sale prices are averaging $402k.

Housing Market Summary for Atlanta, GA

May 2023 April 2024 Change
Median Listing Price $414.2K $401.6K -3.04%
Median Sold Price $381.4K $401.6K 5.29%
Homes For Sale 2,325 2,542 9.33%
Homes Sold 5,383 3,968 -26.29%

In Atlanta, prices per square foot has also been trending upward (now $285). This is higher than the previous average value per square foot of $278. This gradual increase indicates a robust market where buyers are willing to invest more in their property purchases.

Atlanta price per sq ft May 2024
Atlanta price per sq ft May 2024

As we broaden our scope and compare data across counties within Atlanta, we discover disparities. Fulton and Dekalb counties, for instance, depict higher average values and costs per square foot. Such variation points toward certain counties being more sought-after or potentially offering a different mix of properties that attract buyers at different price points.

In summary, the Atlanta real estate market is marked by rising average values, a competitive per square foot pricing structure, albeit with some fluctuations in the number of properties sold. Meanwhile, county-level differences point to a diverse market landscape within the metropolis.

Nearby Cities Real Estate Performance

The housing trend in Atlanta’s neighboring vary. For example, in Mableton the average value has decreased to $435,000, moving backward when comparing it to earlier months such as February 2024. Yet, the sale prices in Mableton average around $388,875, showcasing a different trajectory when it comes to actual transaction values compared to their listed averages.

More stability is found in Smyrna. The average value there is notable at $479,950, which is supported by a relatively high sale price averaging at $449,999. This stability could be indicative of a more predictable market, which buyers and sellers alike may find more reliable.

Avondale Estates stands out with the highest average value among the mentioned cities, at about $547,750. Paired with this high value, the sale price also hovers at a relatively high figure of $569,877. With lower property count and sold count, this suggests an exclusivity or a premium niche within the market.

Scottdale, on the other hand, presents more accessible average values, approximately $340,000, but experiences a lower sale price, reflecting the nuances of the market dynamism at roughly $294,063. Lastly, Decatur seems to maintain an equilibrium with an average value of about $310,000 and a sale price at $311,472, which is quite consistent with its average property value.

What these variations suggest is that the Atlanta real estate market and its surrounding areas are not monolithic. The distinct trends among the nearby cities attest to their individual market conditions, unique local demands, and the impact of their respective community profiles. Potential homeowners and investors need to take a closer look at these variances to understand where the best opportunities or values might lie.

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