Back From The Dark Days to Atlanta Leading The Way –
Dow drops 1,000 points in March, a good day back in March, as panic gripped the financial markets due to Covid-19, and residential real estate felt like it hit a brick wall.
Atlanta Residential Real Estate Stronger Than Ever –
Year-over-year going into the Memorial Day holiday and thus a slight pause in market activity, buyer activity increased 3.9%, and is up 31% since January of 2020. Open Door returning to the market next week proves it, and they view Atlanta as a bell-weather market for the East Coast. Love or leave them, a company will not make such a move unless they see the value in Atlanta real estate.
Buckhead Atlanta’s Strength Revealed –
The week leading up to Memorial Day showed a slight decline in the number of new listings, for all of Atlanta, and specifically for Buckhead and Midtown houses, and the later’s condominiums and town homes. For Buckhead, the decline in house listings WAS ONLY one house. That is great since the effective working week was shortened by two days – people wanting to finally feel justifiably hopeful about relief from Covid-19. Better yet, Buckhead Atlanta condominium listings increased 15% week-over-week while the rest of the market declined 21% and Midtown dropped 29%.