According to realtor.com, Atlanta is one of the top 10 real estate markets to watch this year. Homes in the Atlanta metro area sell 16 days faster than the national average, and affordability is a key factor in growth.
Wendy Forsythe, executive vice president and head of global operations for Carrington Real Estate Services says home prices and sales are continuing on their upward trajectory, according to data from the Atlanta Board of Realtors. There were 4,054 total home sales this past December, a 4.7 percent increase from December 2014. The average sales price also climbed 5.5 percent in the same time frame, to hit $286,000 this past December.
Although Atlanta on the whole is performing well, some areas are doing better than others. According to Redfin, there are three particularly “hot” neighborhoods to watch: West End, Grant Park and Reynoldstown. Although all three are historic districts within the city, West End is the most up-and-coming. After years of urban blight, the neighborhood is benefitting from renewal projects and investments in parks and trails. Known as a mecca for artists, the area features a variety of housing styles, from Craftsman bungalows to Queen Anne and folk Victorian. West End is also still remarkably affordable – with a median sale price of $122,000.
Forsythe says although those neighborhoods are ones to keep an eye on, the whole Atlanta area is expected to perform well in the residential real estate market this year.
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