The Morningside-Lenox Park neighborhood of Atlanta was predicted to be one of the hottest neighborhoods for 2014 by Redfin, and after a mid-year check, it appears that Redfin’s guess in Atlanta was correct!
Morningside-Lenox Park took the No. 3 spot in Redfin’s prediction thanks to its proximity to and lower price tag than Virginia Highland. The area has many of the same amenities as the popular Virginia Highland neighborhood, including established and unique restaurants, a strong sense of community and two large employers located nearby, AT&T and Emory University.
To determine how well the housing markets on Redfin’s list from January were performing, the research site compared several housing metrics, including median sale price, price per square foot, how fast homes sold and how many homes sold, and compared them with last year. Morningside-Lenox Park, along with seven of the other neighborhoods, have definitively outperformed their metro areas so far, proving Redfin’s predictions to be mostly correct.
In addition to checking in on the markets identified at the beginning of 2014, Redfin created a new list of 10 Neighborhoods That are Warming Up. Included on this list is Inman Park, a small community bordered by Moreland Avenue, Freedom Parkway, Old Fourth Ward and DeKalb Avenue. Known for its stunning historic homes, this neighborhood has a variety of new attractions, such as the Atlanta BeltLine and Krog Street Market, which are drawing more people to the area.
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