Great News About Atlanta Real Estate – Feelings Are Confirmed – Re-Opening of Georgia Had Dramatic Effect

May 17, 2020
Back on April 27, 2020 I predicted and posted that the Atlanta housing market would come back strong. Well, it definitely has, and the number of new listings as recorded by the First Multiple Listing Service support this fact.

Jubilant Feeling of Georgia Re-Opening Confirmed – First Weekend of May
New listings for both houses and attached homes (condominiums and townhomes) saw their biggest increase the weekend that Georgia Governor re-opened the state. Houses saw a 32.7% increase in new listings while attached homes experienced an 81.5% increase.

Condominium Listings Leading The Way – 218% Increase
As you can imagine with all the precautions and concerns about contracting Covid-19, attached home listings were dramatically lower than house ones from the end of March of until the May 1st re-opening. During this gloomy period, there were 193 new listings, and now since approximately May 1st, 420 new ones. Count as that as a 218% increase homes coming on the market. Admittedly, these numbers still languish compared to house ones, as 506 houses were added to the market at this time.

Line of Delineation -Weeks of April 19th – 25th & April 26th-May 2nd
The number of houses coming to the market stayed in the weekly range of 102-109 prior to April 26th. Since then, the lowest number has been 154 last week and jumped to 194 for this one, a 25% increase. For condominiums and town homes until the 26th, numbers fluctuated in the range of 56 to 79. Now, as of the line of delineation, the lowest number was the weekend Georgia re-opened, 118 units. Since then, the listings have increased to 143 and now 159 for this past week.

House Market Retaining Strength –
Its second highest growth in the number of listings took place this past weekend at 25.9%, after a slight dip 3.4%. That hiccup followed a 32.7% increase during the weekend of the re-opening.

Buckhead Atlanta and Midtown Atlanta Markets –
They have followed the same patterns as the overall Atlanta ones.

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.)

Top Atlanta Real Estate Articles – August 12th – 19th

Here are the Top 7 Atlanta real estate articles for August 12th through 19th.

Buckhead Atlanta: “Buckhead Atlanta Being Redefined – Progressing and Preserving Its Heritage” Source: James Kobal, Berkshire Hathaway HomeServices Georgia Properties

What Will $3500 Rent You in Midtown [Atlanta] Today (Source: Hoodline.com)

Kirkwood: “Before construction launches, developers planning huge pop-up at Pratt Pullman District” Source: Atlanta Curbed

Buckhead Atlanta: “Mixed-use development with luxury condos, hotel planned for Buckhead” (Source: Northside Neighbor)

Atlanta Apartments: “Rhode Island Investor Sells Two Atlanta Apartment Communities” (Source: CoStar)

Old Fourth Ward: “Old Fourth Ward townhome project replacing former kids’ academy has launched,” (Source: Atlanta Curbed)

Recession DOES NOT Equal Housing Crisis Atlanta continues to attract so many companies (James Kobal) that we will not feel it is much as other cities. (Source: Keeping Current Matters)

I Feel The Need for Speed …Relocate to Atlanta | Atlanta’s Attraction for Relocation Combines CRE + Residential

Business Environment Spurs Growth and Renewal with Government Support

I Feel The Need for Speed…to Relocate to Atlanta. Atlanta 3rd Best Among Large Cities for First Time HomeBuyerrs – Reality is #1
Now if you look at the list about Atlanta has to offer compared to the two cities ranked higher, we are most definitely #1. Look at the great business climate in which to work, and corporate one for relocation. Add to the fact, Atlanta is one of the most popular tourist and convention destinations, we are the best. Last but not least, are the other cities really major ones?

Atlanta So Strong It Cannot Be Ignored by Competitor Cities:
Originally published on June 14th, Atlanta’s attraction for being a top business destination in “which you want to work” attracted attention in the Midwest by a was noted this rely by the renowned Key Tower Ohio. It ranked Atlanta as the #1 city in which to work.

Public-Private Cooperation:
The Atlanta Westide Future Fund  is one of the best present embodiment of cooperation between the city government and private philanthropic support to spur Atlanta’s commercial and residential real estate development while protecting its current residents against real estate tax increases for – the next 20 years. SunTrust Bank, earlier this May donated $5 million to the fund. Ms. Ebony Ford, according to the Atlanta Business Chronicle on May 3rd, benefited from it.

I thank Tim Keane who said the Westside of Atlanta provides the best commercial and residential real estate investment opportunities and highlighted the private-public cooperation, at the Atlanta Design Fesitval’s “Thoughtful Development for a Sustainable Future” on June 4th 2019. He and Nathan Hedges said that Atlanta’s Westside provides the greatest opportunity for commercial real estate re-use. Therefore, we have only tapped the surface of the Westside Atlanta’s growth.

Such cooperation can be traced to a great relationship between Atlanta’s city hall and business sector, especially its Fortune 500 companies.

What does that mean for residential real estate? Midtown Atlanta continues to assert its position as the strongest sub-market, the prime area for Fortune 500 Companies relocation. Berkshire Hathaway HomeServices Georgia Properties is the best Midtown Atlanta real estate has been entrusted to serve the relocation of iconic Atlanta corporations.

Fortune 500 Companies:
Atlanta’s Fortune 500 international business environment continues to grow. In its recent recent history, the Georgia Aquarium grew from the incredible collaboration between Atlanta May Shirley Franklin and one Home Depot Founder Bernie Marcus. Now, you have rejuvenation of the West Side of Atlanta with the other owner, Arthur Blank after he built the world renowned Mercedes-Benz stadium.

The private and government sector are always looking to collaborate to improve the city. Rarely, do hear about a perpetual dispute between the two parties. This cooperation has its origins in the Civil Rights Movement as the “City too busy too hate” and former Mayor Kasim Reed, “Cooperation is better than confrontation.”


Taxes and Cost of Living

Atlanta’s and all of Georgia’s reputation for being a less-expensive place to live is definitely merited, and that is with great quality of life. Rarely, do you find people who have lived in Atlanta since the mid-90’s returning back to high tax states such as New York, Connecticut, New York, Illinios, and California. Moreover, the spending power we enjoy in Atlanta greatly surpasses what residents in other states enjoy. For example, earning $50,000 in Atlanta is the same as $90,685 in New York City. (Note WalletHub and BestPlaces.net provided the information.)

Climate

Forget “Hotlanta.” New York City and Chicago are just as hot in July and August as Atlanta. Our winters are mild, and we do not suffer from the winter drudgery. Forget about statistics. Atlanta’s weather consistently changes, except for the summer.


Diversity of Neighborhoods

In Atlanta, as we continue to unify a city of transplants, we celebrate and visit the greatness of the uniqueness of each neighborhood. Each one has its own special feel that you can immediately experience. Look back to Atlanta’s origins and Buckhead Atlanta’s founder Henry Irby who founded it back in 1840 after moving here from South Carolina.

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

Welcome to AtlantaRealEstate.buzz

Thank you for taking the time to read the inaugural blog post of AtlantaRealEstate.buzz by James Kobal, a REALTOR with Berkshire Hathaway HomeServices Georgia Properties in its Midtown Atlanta office.

Atlanta Real Estate Relocation Consultants? We at the Silverman & Associates team recognize that the vast majority of real estate transactions involve “relocation.” People usually associate this term transferring from one state to another. We know, especially here in Atlanta, that you can just as easily experience a dramatic change by moving from a northern suburb to inside the Perimeter (I-285).