Post-Pandemic Home Prices in 5 ATL Communities
Looking to sell and wondering how COVID-19 has changed the Atlanta luxury home market? Since March 2020, home values in the ATL have climbed from an average of $350,000 to $395,000, an uptick of 16.6% in the past year.
As any Atlantan knows, the city is a growing hub of innovation. So, it’s no surprise that this trend began before the pandemic, with a soaring percentage increase of 74% since 2017.
In short, Atlanta has become a magnet for buyers. This means sellers are in luck, especially in the ATL luxury homes arena!
Stats on 5 of Atlanta’s Luxury Home Markets
This blog entry breaks down the trends in five different popular Atlanta neighborhoods to help you understand where you stand in ATL’s luxury homes markets:
1. Buckhead High-End Home Stats
Buckhead sellers know the appeal of an Intown Atlanta lifestyle. And trends overall suggest others do too. After a dip in the market in early 2020, Buckhead’s home prices reached their highest in July 2021, when the average home sold for $585,900.
Despite declining from that peak in the fall, home values in Buckhead are now rising once again.
2. Lawrenceville Luxury Home Stats
Homes in Lawrenceville have steadily climbed in value since the start of quarantine, continuing an upward trend that COVID never stalled. Known for its historic courthouse with a lofty clock tower, Lawrenceville has seen consistent job growth in the past year and projects to remain above the U.S. average.
This makes this Atlanta suburb a sweet landing spot for homebuyers, much to the advantage of Lawrenceville sellers.
3. Midtown High-End Home Stats
Midtown sellers didn’t falter during the pandemic either. Prices rose to their highest of the last five years in November 2021, when the average home sold for $348,500. The quarantine that started in March 2020 barely impacted the overall upward trend in Midtown.
Known for its arts and culture, Midtown is an appealing neighborhood for new home buyers in Atlanta, making it essentially a seller’s market.
4. Norcross Luxury Home Stats
The pandemic impacted Norcross sellers initially, with a decline in the market in May 2020. Since then, Norcross homes have been a hot commodity. It’s home to prominent tech companies and admired for its eclectic arts scene, Norcross is a charming suburb, where the average home price peaked in May 2021 at $370,000.
Despite a slight downward trend ever since then, Norcross home prices remain 45% higher than at their lowest point in the pandemic.
5. Roswell High-End Homes Stats
Roswell, a suburb to the north of Atlanta, has seen the same steady upward trends as many nearby areas. These high-end homes actually were at their lowest recent value just before the pandemic, with home prices steadily increasing since.
The average Roswell seller nets $514,000 for their home, with the average peaking at $530,000 just months ago in July 2021.
It’s a Seller’s Market in ATL’s Luxury Home Communities
As the world springs to life again post-pandemic in 2021, homebuyers are still flocking to Atlanta. They are drawn to the city’s booming economy and rich culture. That means that the time to sell is now.
Order a free CMA or Comparative Market Analysis from your local Atlanta luxury homes realtor to learn what your property is worth in 2022. And with Atlanta’s steady upward trends, you can expect top dollar. Or if you need to sell fast, check out Keller Williams’ All Cash Offers.
Ready to pounce on a fantastic opportunity to get top dollar for your home in Buckhead, Lawrenceville, Midtown, Norcross or Roswell? Then, call Kereen Henry at (404) 210-1674 or schedule a thirty-minute online chat with her using the form below.
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