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.)