August Marks Strongest and Most Significant Recovery in Atlanta Housing Market

Midtown Atlanta Leads The Way –
65% Turnaround in Midtown Atlanta Condominium and Townhome Market– Since the start of the Covid19 pandemic, conventional and accurate thinking was that the intown market, specifically Midtown due to its greater population density, would take longer to recover back up to 2019 levels. Midtown Atlanta, indeed showed its recovery in August with a 78% increase in single-family-home sales, and dramatic reversal in the condominium market, up 8%. What? Only 8? Simple, the Midtown Atlanta market was down 73% this July compared to the last one. Bottom line is that people still want to live in Midtown Atlanta, and now they apparently feel more comfortable living in denser spaces.

Buckhead Atlanta remains incredibly strong with a 37% increase in single-family-homes being sold, and 18% for the condominium/townhome market.

How does these housing numbers correspond to the commercial real estate market? Favorably. Downtown Atlanta’s commercial estate continues to show incredible resiliency as demand for office space remains stable according to GlobeSt.com. In the multi-family market, demand in July returned to October 2019 levels, and is “…Atlanta has seen the strongest rent recovery of any major market since mid-May…Year-over-year rent growth in Atlanta is now outpacing the national average….”

James Kobal, Commercial Realtor
Coldwell Banker Commercial Metro Brokers
James.Kobal@CBCMetroBrokers.com | (M) 678.993.4951

Atlanta and all of Georgia Stronger Than Covid – Real Estate, Jobs, Investments

Atlanta and Georgia have been “slobernockered” by Covid, as John Madden would say, but still we are stronger than the disease and the numbers prove it.

Atlanta stands out from the competition about its future, especially as we continue to deal with the nightmare of Covid19, both with residential and commercial real estate market, and continued job and investment growth. Now, updated two days later on August 7th, is great commercial real estate and job news. When it comes to industrial construction, as CoStar reported, Atlanta ranks 2nd. As for jobs, Georgia added 3,629 and $574 million in new investments.

Focusing on residential real estate – Atlanta House numbers -it has been a great recovery from March through July 2020 and solid for a normal situation – The numbers are indisputably strong.

Without Question, the future of Atlanta remains bright. One just has to look at the housing market, specifically houses. The brightness really shines when you look at year-over-year statistics for the number of units sold. Both Buckhead Atlanta and Vinings distinguished their strengths in different ways, price and number of houses sold for consecutive months.

Residential and Commercial Real Estate Working Together – in Vinings

Buckhead Atlanta remains, justifiably, the iconic neighborhood to those outside of Atlanta, and year-over-year justified this view. For the month of July, 2019 to 2020, the number houses sold remained the same at 66. This market’s strength rests in the average increased sales prices for June ($162,172) and July ($208, 341) in the 30327 and 30305 zip codes.

Vinings and Midtown Atlanta further showed how strong the desire is for houses, especially greater personal space with normal social distancing. Leading the biggest gain was Vinings at 80% in June with sales almost doubling from 5 to 9. Better yet are July’s numbers, 100% increase of 7 to 14, and sales days on market dropping 44%. June’s average sales price trailed 2019s by approximately $38,000 and then surpassed last July’s by $90,000.

Midtown’s sales increased in June by 71% from 7 to 12, and 60% in July from 10 to 16. As for increased average sales price, there was a month’s delay in 2020 numbers surpassing 2019s. July 2020 outperformed 2019 by $131,673. Days on market remained relatively consistent with Buckhead Atlanta’s numbers.

When it comes to condominium and town home sales, 2020 numbers lag behind 2019s. This should be expected. The need for social distance and desire to have personal outdoor space, as a result of the quarantine, have not bode well for these sales. When will the trend reverse itself? I guess when people feel comfortable or are allowed to go back into an office, and other public spaces at pre-virus levels.

Buckhead Atlanta and Vinings Housing Market Update – Solid

Vinings and Buckhead Atlanta housing markets have not experienced the realm of “Panic kills”- activity slows to a crawl. The panic that could “kill” market activity is the relative emotional meltdown of the trade war, impeachment, etc. Fortunately, Atlanta is far more attractive than these emotional stresses, as our city ranks as one of the top places for corporate and millennial relocation. Our (1)

Vinings and Buckhead Atlanta (30305) single-family strength remained solid year-over-year. Vinings rebounded from a slow start to the month and ended it with the same number of units sold in September 2019 as 2018’s, and a big improvement from a few months ago when Buckhead appeared to show some ongoing weakness. Buckhead Atlanta grew by an astonishing 21%, AND days on the market fell 289%. That number is much stronger than you realize as luxury homes that had been the market for over 365 days closed at the beginning of the month.

Even as Buckhead Atlanta single-family-home sales increased and Vinings remained the same and with slight changes to Midtown Atlanta, single-family inventory for Buckhead is a seller’s one while the other neighborhoods are most definitely a buyer’s, especially Vinings via an eight (8) month supply of homes. Even with that inventory in Vinings, good news exists – less than a month to sell your home.

Midtown Atlanta Skyline

The condominium market for both Vinings and Buckhead Atlanta and revealed a potential softening, overall. Vinings dropped 25% while Buckhead Atlanta only fell 7%. In Midtown Atlanta, some of that weakening appeared with sales declining 4.5% (-3), 35 to 30. Its single home sales, just a small fraction of this market, fell by 1 unit (4 to 5).

Considering all the stress and anxiety that has been placed on the country through all trade war and impeachment turmoil, I think the market is doing incredibly well, and will grow again as soon as the panic abates. Moreover, you have multitudes of people leaving California, the Northeast, Illinois for Georgia where you have favorable business conditions. This should bode well for the Atlanta housing market, provided panic and anxiety do not rise to a paralytic level.

For further assistance in your Atlanta housing and real estate investment needs, please contact me at (M) 678.993.4951 or

(1) (Please see previous posts about Atlanta’s business environment.) (Note: In no way do I advocate, condone or stand by quietly in the face of any form of inappropriate physical or emotional misconduct.)

Atlanta Residential Real Estate – Why It Is Hot – Our CRE and Business Environment Help

“Atlanta is putting a smile on its face.” A friend told me that when we met at an Urban Land Institute meeting. Just looking at the map, you could see the smile as the BeltLine continues to grow on its southern and western corridors. The eyes could be the neighborhoods of Buckhead in the northwest and and DeKalb neighborhoods along the I-85 corridor. The nose would be Midtown, with the upper lip being downtown and lower one the BeltLine.

I wrote the following message to a Berkshire Hathaway HomeServices Georgia Properties colleague in the New York City office who inquired about the state of the market. It starts at “Atlanta Market -“

Atlanta Market –
Starting Point Stat – City of Atlanta population will soon return to its 1970 level, and is expected to double in the next 10 years. Overall, Companies are either relocating or expanding their corporate office size here. Commercial real estate is active that way, and that means more residential business.

Area around Emory continues to do well, along with its neighbors in downtown Decatur and East Lake.

The BeltLine is another huge driver in the Atlanta market. As the name suggests, this project is connecting the city like it has not been for over 40 years. This desire for walkability has impacted Buckhead Atlanta with the continue growth of Path 400.

West Side of Atlanta is just starting to take off, and will be a key player in the next 5 years. Two new parks are driving the growth. One will immediately accelerate the re-vitalization of the area, next 10-12 months. The other, Bellwood Quarry Park, provides well-founded optimism. This one will be TWICE as big as Piedmont Park. (I have been working this area for the past few years.)

Brave Stadium –
The Atlanta Braves’ relocation has meant the growth of the old Turner Field as Georgia State University moves the focus of its campus to there. Simultaneously, Vinings, where the Braves now play, is seeing unprecedented growth.

Residential and Commercial Real Estate Working Together – in Vinings