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QTR 3 2022 MARKET
A s w e m o v e i n t o c o o l e r w e a t h e r a n d c h a n g e o f s e a s o n s , w e a r e c e r t a i n l y a l s o s e e i n g a s w i f t c h a n g e i n t h e h o u s i n g m a r k e t ! F u e l e d b y i n f l a t i o n a n d r s i n g p r c e s e a r l i e r i n t h e y e a r , t h e r e c e n t a n d d r a m a t i c i n c r e a s e i n i n t e r e s t r a t e s o v e r t h e s u m m e r h a v e c a u s e d m a n y b u y e r s , s e l l e r s , i n v e s t o r s a n d a g e n t s t o t a k e a p a u s e W h a t d o e s t h i s m a r k e t s h i f t m e a n f o r u s i n A t l a n t a o v e r t h e c o m i n g m o n t h s ?
While no one has a crystal ball, economic and real estate experts seem to agree that low inventory will keep the housing market from seeing a s gnificant decrease in prices In Atlanta, we are a rap dly growing city with high demand for homes And we still have a shortage of housing available. Affordability, particularly paired with higher rates, has slowed demand a bit But, our market, like many others around the US, seems to be experienc ng more of a “cooling off” as opposed to a decline.
Some would argue that we are entering a more normal market What does that mean? In a typical market, year over year appreciation is 3 5%, not the 15 20% we ’ ve seen in recent years In a more balanced market, it isn’t uncommon for listings to take 30 60 days to get under contract It s not normal for sellers to rece ve 10 or more offers on their home the f rst day t hits the market And, it s certainly not the norm for listings to sell at 20% above the asking price! Many people feel that this market correction was needed to create healthy housing market dynamics
Anytime the market shifts it’s important for buyers and sellers to work with an experienced agent to help navigate offers, financing, investment and generally how to adapt to the changing environment At Keller Knapp Realty, we pride ourselves on our ability to adapt to changing market conditions We hope you ll reach out to us when it’s time to buy, sell or invest in a home we look forward to work ng with you!
Sincerely,
Weslee Knapp REALTOR® Principal Broker, Owner
F R O M O U R P R I N C I P A L B R O K E R W E S L E E K N A P P
MARKET ANALYSIS
3RD QUARTER 2022 SINGLE-FAMILY HOMES
1 2 4 3 5 6 7 10 8 9 20 675 75 85 85 400 20 75 285 285 METRO ATLANTA AREA BREAKDOWN SINGLE-FAMILY HOMES Northwest Atlanta Northeast Atlanta City of Tucker North Decatur Intown Atlanta City of Decatur South Decatur Southeast Atlanta Southwest Atlanta Westside 1 2 3 4 5 6 7 8 9 10
NORTHWEST ATLANTA NEIGHBORHOODS Sandy Springs (W) Sandy Springs (S) Chastain Park Peachtree Hills/Peachtree Park Collier Hills Tuxedo Park West Paces Ferry 1 2 3 4 5 6 7 1 285 85 285 75 400 141 78 2 3 6 4 5 7 3RD QUARTER 2022 KEY METRICS SINGLE-FAMILY HOMES SALES PRICE ~ $1,325,897 FROM PREVIOUS YEAR FROM PREVIOUS QUARTER +6.6% -0.1% #UNITS SOLD ~ 197 FROM PREVIOUS YEAR FROM PREVIOUS QUARTER -32.3% -33.2% SOLD PRICE/LIST PRICE ~ 98.2% FROM PREVIOUS YEAR FROM PREVIOUS QUARTER +4.1% -3.1% AVERAGE DAYS ON MARKET ~ 14 FROM PREVIOUS YEAR FROM PREVIOUS QUARTER -24.4% +120.9%
85 1 NORTHEAST ATLANTA NEIGHBORHOODS Brookhaven - North Chamblee Doraville Brookhaven - South North Buckhead/Pine Hills 1 2 3 4 5 2 3 4 5 285 141 85 2385 285 3RD QUARTER 2022 KEY METRICS SINGLE-FAMILY HOMES SALES PRICE ~ $789,900 FROM PREVIOUS YEAR FROM PREVIOUS QUARTER +17.6% +3.3% #UNITS SOLD ~ 231 FROM PREVIOUS YEAR FROM PREVIOUS QUARTER -19.2% -23.3% SOLD PRICE/LIST PRICE ~ 98.1% FROM PREVIOUS YEAR FROM PREVIOUS QUARTER -0.3% -4.2% AVERAGE DAYS ON MARKET ~ 11 FROM PREVIOUS YEAR FROM PREVIOUS QUARTER -14.9% +103.7%
78 29 10 78 85 CITY OF TUCKER NEIGHBORHOODS City of Tucker - West City of Tucker - East 1 2 285 140 1 2 3RD QUARTER 2022 KEY METRICS SINGLE-FAMILY HOMES SALES PRICE ~ $416,338 FROM PREVIOUS YEAR FROM PREVIOUS QUARTER +10.1% -5.4% #UNITS SOLD ~ 97 FROM PREVIOUS YEAR FROM PREVIOUS QUARTER -21.8% -28.1% SOLD PRICE/LIST PRICE ~ 99.2% FROM PREVIOUS YEAR FROM PREVIOUS QUARTER -1.3% -1.6% AVERAGE DAYS ON MARKET ~ 10 FROM PREVIOUS YEAR FROM PREVIOUS QUARTER +9.6% +58.3%
85 85 1 NORTH DECATUR NEIGHBORHOODS North Druid Hills Northlake Leafmore/Sagamore Hills Medlock Park Druid Hills 1 2 3 4 5 2 3 4 5 285 20 154 85 400 285 154 3RD QUARTER 2022 KEY METRICS SINGLE-FAMILY HOMES SALES PRICE ~ $621,680 FROM PREVIOUS YEAR FROM PREVIOUS QUARTER +5.4% -4.8% #UNITS SOLD ~ 199 FROM PREVIOUS YEAR FROM PREVIOUS QUARTER -19.8% -28.9% SOLD PRICE/LIST PRICE ~ 98.8% FROM PREVIOUS YEAR FROM PREVIOUS QUARTER 0% -3% AVERAGE DAYS ON MARKET ~ 11 FROM PREVIOUS YEAR FROM PREVIOUS QUARTER -16.8% +82.8%
85 INTOWN ATLANTA NEIGHBORHOODS Ansley Park + Lindridge Martin-Manor Virginia Highland + Morningside Candler Park + Lake Claire Kirkwood + Edgewood East Lake Cabbagetown + Reynoldstown Inman Park Old Fourth Ward Midtown 1 2 3 4 5 6 7 8 75 20 1 2 9 8 5 3 4 6 78 23 9 7 3RD QUARTER 2022 KEY METRICS SINGLE-FAMILY HOMES SALES PRICE ~ $847,667 FROM PREVIOUS YEAR FROM PREVIOUS QUARTER +11.3% -7.1% #UNITS SOLD ~ 214 FROM PREVIOUS YEAR FROM PREVIOUS QUARTER -28.7% -21% SOLD PRICE/LIST PRICE ~ 98.6% FROM PREVIOUS YEAR FROM PREVIOUS QUARTER 0% -4.4% AVERAGE DAYS ON MARKET ~ 15 FROM PREVIOUS YEAR FROM PREVIOUS QUARTER +19.1% +219.5%
1 20 2 154 78 78 23 CITY OF DECATUR NEIGHBORHOODS Decatur Oakhurst 1 2 3RD QUARTER 2022 KEY METRICS SINGLE-FAMILY HOMES SALES PRICE ~ $747,250 FROM PREVIOUS YEAR FROM PREVIOUS QUARTER +7.3% -8% #UNITS SOLD ~ 47 FROM PREVIOUS YEAR FROM PREVIOUS QUARTER -37.3% -45.3% SOLD PRICE/LIST PRICE ~ 100% FROM PREVIOUS YEAR FROM PREVIOUS QUARTER +0.2% -5.2% AVERAGE DAYS ON MARKET ~ 10 FROM PREVIOUS YEAR FROM PREVIOUS QUARTER +27.7% +150%
154 1 3 2 4 20 285 10 78 285 78 20 SOUTH DECATUR NEIGHBORHOODS Scottdale Avondale Estates Belvedere Park Candler-McAfee 1 2 3 4 85 3RD QUARTER 2022 KEY METRICS SINGLE-FAMILY HOMES SALES PRICE ~ $406,563 FROM PREVIOUS YEAR FROM PREVIOUS QUARTER +14.5% -1.2% #UNITS SOLD ~ 176 FROM PREVIOUS YEAR FROM PREVIOUS QUARTER -18.1% -25.1% SOLD PRICE/LIST PRICE ~ 99.6% FROM PREVIOUS YEAR FROM PREVIOUS QUARTER -1.1% -2.8%
75 675 285 166 154 4 2 5 6 7 9 1 8 3 285 85 20 SOUTHEAST ATLANTA NEIGHBORHOODS Summerhill/Peoplestown Grant Park Chosewood Park/Benteen Ormewood East Atlanta East Lake Terrace Gresham Park Pennington Park/Balleau Woods Lakewood 1 2 3 4 5 6 7 8 9 3RD QUARTER 2022 KEY METRICS SINGLE-FAMILY HOMES SALES PRICE ~ $444,233 FROM PREVIOUS YEAR FROM PREVIOUS QUARTER +14.3% -3.1% #UNITS SOLD ~ 238 FROM PREVIOUS YEAR FROM PREVIOUS QUARTER -25.9% -30.8% SOLD PRICE/LIST PRICE ~ 98.8% FROM PREVIOUS YEAR FROM PREVIOUS QUARTER -1.3% -2.7% AVERAGE DAYS ON MARKET ~ 11 FROM PREVIOUS YEAR FROM PREVIOUS QUARTER -3.9% +47.8%
85 1 SOUTHWEST ATLANTA NEIGHBORHOODS Audobon Forest/Cascade Heights West End/Adair Park Oakland City/Venetian Hills Pittsburgh/Sylvan Hills East Point Hapeville College Park 1 2 3 4 5 6 7 2 3 4 5 6 7 20 285 20 154 85 75 3RD QUARTER 2022 KEY METRICS SINGLE-FAMILY HOMES SALES PRICE ~ $344,002 FROM PREVIOUS YEAR FROM PREVIOUS QUARTER +10.7% -2.5% #UNITS SOLD ~ 306 FROM PREVIOUS YEAR FROM PREVIOUS QUARTER -20.3% -21.5% SOLD PRICE/LIST PRICE ~ 98.5% FROM PREVIOUS YEAR FROM PREVIOUS QUARTER -1.1% -1.7% AVERAGE DAYS ON MARKET ~ 13 FROM PREVIOUS YEAR FROM PREVIOUS QUARTER +28.2% +28.8%
1 85 2 3 4 5 6 7 285 75 20 20 85 285 WESTSIDE NEIGHBORHOODS Vinings Buckhead - West Underwood Hills/Westside Station Grove Park + Howell Station Mosley Park + Washington Park Collier Heights Riverside 1 2 3 4 5 6 7 3RD QUARTER 2022 KEY METRICS SINGLE-FAMILY HOMES SALES PRICE ~ $635,386 FROM PREVIOUS YEAR FROM PREVIOUS QUARTER +19.9% +9% #UNITS SOLD ~ 219 FROM PREVIOUS YEAR FROM PREVIOUS QUARTER -28.7% -18.6% SOLD PRICE/LIST PRICE ~ 98.1% FROM PREVIOUS YEAR FROM PREVIOUS QUARTER -0.5% -2% AVERAGE DAYS ON MARKET ~ 14 FROM PREVIOUS YEAR FROM PREVIOUS QUARTER +5.6% +78.6%
MARKET ANALYSIS 3RD QUARTER 2022
CONDOS & TOWNHOMES
1 2 3 4 5 20 675 75 85 85 400 20 75 285 285 METRO ATLANTA AREA BREAKDOWN CONDOS & TOWNHOMES Northwest Atlanta Northeast Atlanta North Decatur Intown Atlanta Westside 1 2 3 4 5 Our overview of the Condo and Townhome market includes 5 Metro Atlanta Areas that make up approximately 85% of the total Residential Attached sales. These areas are rich in high-density and multi-family housing. We also present Condos and Townhomes separately, because there is a substantial price difference between the two types of homes.
NORTHWEST ATLANTA TOWNHOMES CONDOS 3RD QUARTER 2022 KEY METRICS SALES PRICE ~ $289,900 FROM PREVIOUS YEAR FROM PREVIOUS QUARTER +13.4% -6.5% #UNITS SOLD ~ 205 SOLD PRICE/LIST PRICE ~ 100% AVERAGE DAYS ON MARKET ~ 12 FROM PREVIOUS YEAR FROM PREVIOUS QUARTER -34.3% -23.5% FROM PREVIOUS YEAR FROM PREVIOUS QUARTER +1.4% 0% FROM PREVIOUS YEAR FROM PREVIOUS QUARTER -33.3% +33.3% SALES PRICE ~ $542,441 FROM PREVIOUS YEAR FROM PREVIOUS QUARTER +13.6% -6.5% #UNITS SOLD ~ 58 SOLD PRICE/LIST PRICE ~ 100% AVERAGE DAYS ON MARKET ~ 8 FROM PREVIOUS YEAR FROM PREVIOUS QUARTER +34.1% -15.9% FROM PREVIOUS YEAR FROM PREVIOUS QUARTER +0.8% -1.5% FROM PREVIOUS YEAR FROM PREVIOUS QUARTER -33.3% +60%
NORTHEAST ATLANTA TOWNHOMES CONDOS 3RD QUARTER 2022 KEY METRICS SALES PRICE ~ $279,000 FROM PREVIOUS YEAR FROM PREVIOUS QUARTER +5.3% -3.8% #UNITS SOLD ~ 139 SOLD PRICE/LIST PRICE ~ 100% AVERAGE DAYS ON MARKET ~ 8 FROM PREVIOUS YEAR FROM PREVIOUS QUARTER -21% -2.8% FROM PREVIOUS YEAR FROM PREVIOUS QUARTER +1.1% -1.3% FROM PREVIOUS YEAR FROM PREVIOUS QUARTER -33.3% +60% SALES PRICE ~ $582,500 FROM PREVIOUS YEAR FROM PREVIOUS QUARTER +11.1% -4.9% #UNITS SOLD ~ 88 SOLD PRICE/LIST PRICE ~ 99.1% AVERAGE DAYS ON MARKET ~ 12 FROM PREVIOUS YEAR FROM PREVIOUS QUARTER -35.3% -8.3% FROM PREVIOUS YEAR FROM PREVIOUS QUARTER -0.9% -2.8% FROM PREVIOUS YEAR FROM PREVIOUS QUARTER -47.8% +140%
NORTH DECATUR TOWNHOMES CONDOS 3RD QUARTER 2022 KEY METRICS SALES PRICE ~ $251,000 FROM PREVIOUS YEAR FROM PREVIOUS QUARTER +15.9% +4.6% #UNITS SOLD ~ 61 SOLD PRICE/LIST PRICE ~ 100% AVERAGE DAYS ON MARKET ~ 12 FROM PREVIOUS YEAR FROM PREVIOUS QUARTER -7.6% -29.9% FROM PREVIOUS YEAR FROM PREVIOUS QUARTER +0.9% -2.2% FROM PREVIOUS YEAR FROM PREVIOUS QUARTER 0% +140% SALES PRICE ~ $552,500 FROM PREVIOUS YEAR FROM PREVIOUS QUARTER +32.2% +8% #UNITS SOLD ~ 40 SOLD PRICE/LIST PRICE ~ 99.8% AVERAGE DAYS ON MARKET ~ 8 FROM PREVIOUS YEAR FROM PREVIOUS QUARTER -24.5% -4.8% FROM PREVIOUS YEAR FROM PREVIOUS QUARTER -0.2% -3.2% FROM PREVIOUS YEAR FROM PREVIOUS QUARTER -42.9% +60%
INTOWN ATLANTA TOWNHOMES CONDOS 3RD QUARTER 2022 KEY METRICS SALES PRICE ~ $336,000 FROM PREVIOUS YEAR FROM PREVIOUS QUARTER +8.4% -5.5% #UNITS SOLD ~ 306 SOLD PRICE/LIST PRICE ~ 100% AVERAGE DAYS ON MARKET ~ 11 FROM PREVIOUS YEAR FROM PREVIOUS QUARTER -29.2% -25.7% FROM PREVIOUS YEAR FROM PREVIOUS QUARTER +0.9% 0% FROM PREVIOUS YEAR FROM PREVIOUS QUARTER -21.4% +120% SALES PRICE ~ $626,500 FROM PREVIOUS YEAR FROM PREVIOUS QUARTER +14.2% +6.8% #UNITS SOLD ~ 98 SOLD PRICE/LIST PRICE ~ 100% AVERAGE DAYS ON MARKET ~ 21 FROM PREVIOUS YEAR FROM PREVIOUS QUARTER -14% -13.3% FROM PREVIOUS YEAR FROM PREVIOUS QUARTER 0% -1.6% FROM PREVIOUS YEAR FROM PREVIOUS QUARTER +133.3% +320%
WESTSIDE TOWNHOMES CONDOS 3RD QUARTER 2022 KEY METRICS SALES PRICE ~ $292,500 FROM PREVIOUS YEAR FROM PREVIOUS QUARTER +17.2% -0.1% #UNITS SOLD ~ 160 SOLD PRICE/LIST PRICE ~ 100% AVERAGE DAYS ON MARKET ~ 7 FROM PREVIOUS YEAR FROM PREVIOUS QUARTER -34.7% -18.4% FROM PREVIOUS YEAR FROM PREVIOUS QUARTER 0% 0% FROM PREVIOUS YEAR FROM PREVIOUS QUARTER -46.2% +16.7% SALES PRICE ~ $455,500 FROM PREVIOUS YEAR FROM PREVIOUS QUARTER +15% -7.7% #UNITS SOLD ~ 100 SOLD PRICE/LIST PRICE ~ 100% AVERAGE DAYS ON MARKET ~ 9 FROM PREVIOUS YEAR FROM PREVIOUS QUARTER -36.7% -29.6% FROM PREVIOUS YEAR FROM PREVIOUS QUARTER -0.2% -1.5% FROM PREVIOUS YEAR FROM PREVIOUS QUARTER -18.2% +50%
Disclaimer will go here about where data for Market Report was attained as well as some info on Keller Knapp, Inc fully supports the principles of the Fair Housing Act and the Equal Opportunity Act Lorem ipsum dolor sit amet, consectetur adipiscing elit Maecenas mollis semper enim, ac ultricies augue dignissim eget Vivamus vitae arcu in augue scelerisque vulputate W W W . K E L L E R K N A P P R E A L T Y . C O M D E C A T U R O F F I C E 7 1 5 E A S T L A K E D R , D E C A T U R , G A 3 0 0 3 0 4 0 4 3 7 0 0 0 9 2 M I D T O W N O F F I C E 1 0 2 7 M O N R O E D R , A T L A N T A , G A 3 0 3 0 6 4 0 4 5 9 4 8 7 0 0 T U C K E R O F F I C E 2 3 4 4 M A I N S T , T U C K E R , G A 3 0 0 8 4 6 7 8 6 9 4 1 3 7 5 E A S T A T L A N T A O F F I C E 4 7 1 A F L A T S H O A L S A V E S E , A T L A N T A , G A 3 0 3 1 6 4 0 4 2 5 4 5 2 0 6
