Atlanta Home Prices Going Up AGAIN - May 2023
In this video, real estate agent Connie Carlson provides an update on the Atlanta housing market as of April 2023. She compares the Atlanta housing market to the United States housing market and provides insight on what to expect in the next few months.
One of the key indicators of the housing market that Carlson discusses is the number of homes for sale. She notes that there are currently 10,000 homes for sale in Atlanta, which is an increase of 54 compared to a year ago. However, in Marietta, one of the markets that Carlson specializes in, there has only been an increase of 24 homes for sale. This could be due to people holding onto their homes and not wanting to sell or more people moving to Marietta for its affordability.
Another important indicator is the time it takes for homes to sell. Carlson notes that homes are taking longer to sell in Atlanta, with the median time on the market increasing from 14 days to 49 days in the past year. However, in Marietta, the time on the market has only increased from 14 days to 28 days, which is still significantly lower than the metro area and the United States as a whole.
Despite the increase in interest rates, Carlson explains that the low inventory is keeping prices up. The median list price for houses in Marietta is $550,000, which is a 10% increase from last year. The median list price for houses in Atlanta is $425,000, and in the United States, it is $444,000.
Carlson also provides median home prices for different North West Atlanta suburbs, with Roswell having the highest median price at $715,000. Woodstock, which is quite a ways north of downtown Atlanta, has the second-highest median price and is becoming a popular area due to its entertainment and expressway.
In conclusion, the Atlanta housing market is experiencing an increase in the number of homes for sale and longer time on the market. However, the low inventory is keeping prices up, and Marietta is still an affordable option for those looking to move to the Atlanta area.
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