METRO ATLANTA
QTR 3 2023
MARKET REPORT
KELLERKNAPPREALTY.COM
As we move closer to the end of the year and the holiday season, it’s a good time to look back and reflect on the Year-to-Date. Did we have a typical market, with raging activity in the Spring and a slower summer? Or did market forces push the sales cycle into uncharted territory? Did the promise of lower interest rates materialize to drive more home sales? Or did sellers continue to hold onto their listings, constraining inventory? The past couple of years have taught us nothing if not that we must stay flexible and at the forefront of the changing market. From the somewhat unexpectedly strong housing market in 2021 during Covid, to the abrupt slower market in late 2022 due to the dramatic rise in interest rates ... at Keller Knapp, we’ve learned to get comfortable with being uncomfortable! However, one thing holds true. Mortgage lenders are resilient in responding to market forces. We’re encouraged by the innovative financing options that are available to home buyers to help with affordability in the face of rising prices and interest rates. While no one knows when or if the interest rates will drop, there are great programs in place for home buyers to make their dreams of home ownership come true in this market - whether it’s a first home purchase, building wealth through real estate or moving up to a dream home!
FROM OUR PRINCIPAL BROKER
WESLEE KNAPP
At Keller Knapp, we believe it’s about much more than just real estate. Our agents live, work & play in the communities that we serve, & uphold an unwavering commitment to developing personal, lifelong relationships with our clients as their trusted real estate advisor. With nearly 200 agents in three Atlanta offices, we continue our commitment to our original company mission – to be a great Neighbor. Local Real Estate Expertise... Like Only a Neighbor Can. We thank each one of you – our friends, family, neighbors & clients – for your support, referrals & trust in Keller Knapp Realty. Sincerely,
Weslee Knapp, REALTOR® Principal Broker, Owner
MARKET A
3RD QUAR
SINGLE-FAM
ANALYSIS
RTER 2023
MILY HOMES
75
METRO ATLANTA AREA BREAKDOWN SINGLE-FAMILY HOMES 1
Northwest Atlanta
2
Northeast Atlanta
285
20
3
City of Tucker
4
North Decatur
5
Intown Atlanta
6
City of Decatur
7
South Decatur
8
Southeast Atlanta
9
Southwest Atlanta
10
Westside
85
400 85
2 1 3
4
10 6
5
285
7
20
8 9
675
75
3RD QUARTER 2023 KEY METRICS S INGL E -FAM ILY HOM ES
SALES PRICE ~ $1,534,125 15.7%
2.4%
FROM PREVIOUS YEAR
FROM PREVIOUS QUARTER
#UNITS SOLD ~ 144 -26.9%
-32.1%
FROM PREVIOUS YEAR
FROM PREVIOUS QUARTER
SOLD PRICE/LIST PRICE ~ 97.0% -1.2%
-1.1%
FROM PREVIOUS YEAR
FROM PREVIOUS QUARTER
AVERAGE DAYS ON MARKET ~ 11 -22.1%
-8.6%
FROM PREVIOUS YEAR
FROM PREVIOUS QUARTER
NORTHWEST ATLANTA NEIGHBORHOODS 1 2 3 4 5 6 7
Sandy Springs (W) Sandy Springs (S) Chastain Park Peachtree Hills/Peachtree Park Collier Hills Tuxedo Park West Paces Ferry
400 285 75
2
1
141
3 7 85
6
285
4
5
78
NORTHEAST ATLANTA NEIGHBORHOODS 1 2 3 4 5
Brookhaven - North Chamblee Doraville 85 Brookhaven - South North Buckhead/Pine Hills 141
3 285 85
1 2
5 4
285
85
23
3RD QUARTER 2023 KEY METRICS S INGL E -FAMILY HOMES
SALES PRICE ~ $820,400 3.9%
1.5%
FROM PREVIOUS YEAR
FROM PREVIOUS QUARTER
#UNITS SOLD ~ 191 -17.3%
-5.4%
FROM PREVIOUS YEAR
FROM PREVIOUS QUARTER
SOLD PRICE/LIST PRICE ~ 99.3% 1.2%
-0.7%
FROM PREVIOUS YEAR
FROM PREVIOUS QUARTER
AVERAGE DAYS ON MARKET ~ 8 -29.1%
8.3%
FROM PREVIOUS YEAR
FROM PREVIOUS QUARTER
3RD QUARTER 2023 KEY METRICS S INGL E -FAM ILY HOM ES
SALES PRICE ~ $461,375 10.8%
9.5%
FROM PREVIOUS YEAR
FROM PREVIOUS QUARTER
#UNITS SOLD ~ 76 -21.6%
-13.6%
FROM PREVIOUS YEAR
FROM PREVIOUS QUARTER
SOLD PRICE/LIST PRICE ~ 100.0% 0.8%
0.2%
FROM PREVIOUS YEAR
FROM PREVIOUS QUARTER
AVERAGE DAYS ON MARKET ~ 12 21.1%
64.3%
FROM PREVIOUS YEAR
FROM PREVIOUS QUARTER
CITY OF TUCKER NEIGHBORHOODS 140 1 2
City of Tucker - West City of Tucker - East
285
29
1 85
2
78
10
78
NORTH DECATUR NEIGHBORHOODS 1 2 3 4 5
North Druid Hills Northlake Leafmore/Sagamore Hills 85 Medlock Park Druid Hills
285 85
400
2
154
3 1 85
4 285
5
154
20
3RD QUARTER 2023 KEY METRICS S INGL E -FAMILY HOMES
SALES PRICE ~ $673,740 8.4%
1.7%
FROM PREVIOUS YEAR
FROM PREVIOUS QUARTER
#UNITS SOLD ~ 162 -18.6%
-27.4%
FROM PREVIOUS YEAR
FROM PREVIOUS QUARTER
SOLD PRICE/LIST PRICE ~ 99.6% 0.8%
-0.5%
FROM PREVIOUS YEAR
FROM PREVIOUS QUARTER
AVERAGE DAYS ON MARKET ~ 8 -24.5%
42.9%
FROM PREVIOUS YEAR
FROM PREVIOUS QUARTER
3RD QUARTER 2023 KEY METRICS S INGL E -FAM ILY HOM ES
SALES PRICE ~ $823,361 -2.9%
-20.3%
FROM PREVIOUS YEAR
FROM PREVIOUS QUARTER
#UNITS SOLD ~ 175 -18.2%
-19.0%
FROM PREVIOUS YEAR
FROM PREVIOUS QUARTER
SOLD PRICE/LIST PRICE ~ 99.6% 1.0%
-0.4%
FROM PREVIOUS YEAR
FROM PREVIOUS QUARTER
AVERAGE DAYS ON MARKET ~ 11 -24.4%
54.7%
FROM PREVIOUS YEAR
FROM PREVIOUS QUARTER
INTOWN ATLANTA NEIGHBORHOODS 1 2 3 4 5 6 7 8 9
Ansley Park + Lindridge Martin-Manor Virginia Highland + Morningside Candler Park + Lake Claire Kirkwood + Edgewood East Lake Cabbagetown + Reynoldstown Inman Park Old Fourth Ward Midtown
75
1 2
9 78
3
7 8
4 6 5
85 20
23
CITY OF DECATUR NEIGHBORHOODS 1 2
Decatur Oakhurst
23
78
1 78
2
20
154
3RD QUARTER 2023 KEY METRICS S INGL E -FAMILY HOMES
SALES PRICE ~ $763,919 2.2%
-19.4%
FROM PREVIOUS YEAR
FROM PREVIOUS QUARTER
#UNITS SOLD ~ 46 -2.1%
-19.3%
FROM PREVIOUS YEAR
FROM PREVIOUS QUARTER
SOLD PRICE/LIST PRICE ~ 100.8% 0.8%
-0.6%
FROM PREVIOUS YEAR
FROM PREVIOUS QUARTER
AVERAGE DAYS ON MARKET ~ 5 -50.0%
-9.1%
FROM PREVIOUS YEAR
FROM PREVIOUS QUARTER
3RD QUARTER 2023 KEY METRICS S INGL E -FAM ILY HOM ES
SALES PRICE ~ $400,475 -1.5%
-7.0%
FROM PREVIOUS YEAR
FROM PREVIOUS QUARTER
#UNITS SOLD ~ 161 -8.5%
-26.1%
FROM PREVIOUS YEAR
FROM PREVIOUS QUARTER
SOLD PRICE/LIST PRICE ~ 97.6% -2.0%
-1.5%
FROM PREVIOUS YEAR
FROM PREVIOUS QUARTER
AVERAGE DAYS ON MARKET ~ 17 68.3%
9.5%
FROM PREVIOUS YEAR
FROM PREVIOUS QUARTER
SOUTH DECATUR NEIGHBORHOODS Scottdale Avondale Estates Belvedere Park 285 Candler-McAfee
1 2 3 4
78
85
10
1
78
2
3 154 20
4
20
285
SOUTHEAST ATLANTA NEIGHBORHOODS 1 2 3 4 5 6 7 8 9
Summerhill/Peoplestown Grant Park Chosewood Park/Benteen Ormewood East Atlanta 85 East Lake Terrace Gresham Park Pennington Park/Balleau Woods Lakewood
285
154 20
2
1
4
6 5
3
7 9 166
8 285
675
75
3RD QUARTER 2023 KEY METRICS S INGL E -FAMILY HOMES
SALES PRICE ~ $456,554 2.8%
-1.4%
FROM PREVIOUS YEAR
FROM PREVIOUS QUARTER
#UNITS SOLD ~ 233 -2.1%
-7.2%
FROM PREVIOUS YEAR
FROM PREVIOUS QUARTER
SOLD PRICE/LIST PRICE ~ 98.7% -0.1%
-0.5%
FROM PREVIOUS YEAR
FROM PREVIOUS QUARTER
AVERAGE DAYS ON MARKET ~ 15 36.3%
4.5%
FROM PREVIOUS YEAR
FROM PREVIOUS QUARTER
3RD QUARTER 2023 KEY METRICS S INGL E -FAM ILY HOM ES
SALES PRICE ~ $338,908 -1.5%
-0.3%
FROM PREVIOUS YEAR
FROM PREVIOUS QUARTER
#UNITS SOLD ~ 299 -2.3%
-4.5%
FROM PREVIOUS YEAR
FROM PREVIOUS QUARTER
SOLD PRICE/LIST PRICE ~ 97.1% -1.4%
0.2%
FROM PREVIOUS YEAR
FROM PREVIOUS QUARTER
AVERAGE DAYS ON MARKET ~ 23 73.4%
-7.9%
FROM PREVIOUS YEAR
FROM PREVIOUS QUARTER
SOUTHWEST ATLANTA NEIGHBORHOODS 1 2 3 4 5 6 7
Audobon Forest/Cascade Heights West End/Adair Park Oakland City/Venetian Hills Pittsburgh/Sylvan Hills East Point Hapeville College Park 85
20
20
2 1
3 4
5
6
154
285
7
85
75
WESTSIDE NEIGHBORHOODS 1 2 3 4 5 6 7
Vinings Buckhead - West Underwood Hills/Westside Station 75 Grove Park + Howell Station Mosley Park + Washington Park Collier Heights Riverside
285
1 2
85
3 7
4 6
20
5 20 285
85
3RD QUARTER 2023 KEY METRICS S INGL E -FAMILY HOMES
SALES PRICE ~ $573,171 -9.8%
2.3%
FROM PREVIOUS YEAR
FROM PREVIOUS QUARTER
#UNITS SOLD ~ 187 -14.6%
-3.6%
FROM PREVIOUS YEAR
FROM PREVIOUS QUARTER
SOLD PRICE/LIST PRICE ~ 98.0% -0.1%
0.1%
FROM PREVIOUS YEAR
FROM PREVIOUS QUARTER
AVERAGE DAYS ON MARKET ~ 18 27.0%
-19.1%
FROM PREVIOUS YEAR
FROM PREVIOUS QUARTER
MARKET A
3RD QUAR
CONDOS & T
ANALYSIS
RTER 2023
TOWNHOMES
75
METRO ATLANTA AREA BREAKDOWN CONDOS & TOWNHOMES 1
Northwest Atlanta
2
Northeast Atlanta
3
North Decatur
4
Intown Atlanta
5
Westside
285
20
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. 85
400 85
2 1
5
3
5 285
4
20
675
75
NORTHWEST ATLANTA
3RD QUARTER 2023 KEY METRICS CONDOS SALES PRICE ~ $338,250
SOLD PRICE/LIST PRICE ~ 98.5%
16.7%
12.8%
-1.5%
0.1%
FROM PREVIOUS YEAR
FROM PREVIOUS QUARTER
FROM PREVIOUS YEAR
FROM PREVIOUS QUARTER
#UNITS SOLD ~ 160
AVERAGE DAYS ON MARKET ~ 17
-22.0%
-9.1%
41.7%
-5.6%
FROM PREVIOUS YEAR
FROM PREVIOUS QUARTER
FROM PREVIOUS YEAR
FROM PREVIOUS QUARTER
TOWNHOMES SALES PRICE ~ $605,000
SOLD PRICE/LIST PRICE ~ 99.8%
11.5%
9.5%
-0.2%
0.8%
FROM PREVIOUS YEAR
FROM PREVIOUS QUARTER
FROM PREVIOUS YEAR
FROM PREVIOUS QUARTER
#UNITS SOLD ~ 63
AVERAGE DAYS ON MARKET ~ 12
8.6%
8.6%
50.0%
0.0%
FROM PREVIOUS YEAR
FROM PREVIOUS QUARTER
FROM PREVIOUS YEAR
FROM PREVIOUS QUARTER
NORTHEAST ATLANTA
3RD QUARTER 2023 KEY METRICS CONDOS SALES PRICE ~ $300,000
SOLD PRICE/LIST PRICE ~ 99.0%
7.5%
0.0%
-1.1%
-0.1%
FROM PREVIOUS YEAR
FROM PREVIOUS QUARTER
FROM PREVIOUS YEAR
FROM PREVIOUS QUARTER
#UNITS SOLD ~ 103
AVERAGE DAYS ON MARKET ~ 8
-25.9%
-11.2%
0.0%
-38.5%
FROM PREVIOUS YEAR
FROM PREVIOUS QUARTER
FROM PREVIOUS YEAR
FROM PREVIOUS QUARTER
TOWNHOMES SALES PRICE ~ $580,000
SOLD PRICE/LIST PRICE ~ 99.3%
-0.4%
1.3%
0.2%
-0.7%
FROM PREVIOUS YEAR
FROM PREVIOUS QUARTER
FROM PREVIOUS YEAR
FROM PREVIOUS QUARTER
#UNITS SOLD ~ 76
AVERAGE DAYS ON MARKET ~ 8
-13.6%
7.0%
-33.3%
33.3%
FROM PREVIOUS YEAR
FROM PREVIOUS QUARTER
FROM PREVIOUS YEAR
FROM PREVIOUS QUARTER
NORTH DECATUR
3RD QUARTER 2023 KEY METRICS CONDOS SALES PRICE ~$245,000
SOLD PRICE/LIST PRICE ~ 100.0%
-2.4%
-5.8%
0.0%
0.4%
FROM PREVIOUS YEAR
FROM PREVIOUS QUARTER
FROM PREVIOUS YEAR
FROM PREVIOUS QUARTER
#UNITS SOLD ~ 49
AVERAGE DAYS ON MARKET ~ 10
-19.7%
-21.0%
-16.7%
66.7%
FROM PREVIOUS YEAR
FROM PREVIOUS QUARTER
FROM PREVIOUS YEAR
FROM PREVIOUS QUARTER
TOWNHOMES SALES PRICE ~ $599,900
SOLD PRICE/LIST PRICE ~ 100.0%
8.6%
10.7%
0.2%
0.0%
FROM PREVIOUS YEAR
FROM PREVIOUS QUARTER
FROM PREVIOUS YEAR
FROM PREVIOUS QUARTER
#UNITS SOLD ~ 25
AVERAGE DAYS ON MARKET ~ 16
-37.5%
-32.4%
100.0%
60.0%
FROM PREVIOUS YEAR
FROM PREVIOUS QUARTER
FROM PREVIOUS YEAR
FROM PREVIOUS QUARTER
INTOWN ATLANTA
3RD QUARTER 2023 KEY METRICS CONDOS SALES PRICE ~ $349,900
SOLD PRICE/LIST PRICE ~ 98.9%
4.1%
-3.1%
-1.1%
0.0%
FROM PREVIOUS YEAR
FROM PREVIOUS QUARTER
FROM PREVIOUS YEAR
FROM PREVIOUS QUARTER
#UNITS SOLD ~ 259
AVERAGE DAYS ON MARKET ~ 13
-15.4%
-3.0%
18.2%
18.2%
FROM PREVIOUS YEAR
FROM PREVIOUS QUARTER
FROM PREVIOUS YEAR
FROM PREVIOUS QUARTER
TOWNHOMES SALES PRICE ~ $610,000
SOLD PRICE/LIST PRICE ~ 99.2%
-2.6%
1.4%
-0.8%
-0.8%
FROM PREVIOUS YEAR
FROM PREVIOUS QUARTER
FROM PREVIOUS YEAR
FROM PREVIOUS QUARTER
#UNITS SOLD ~ 53
AVERAGE DAYS ON MARKET ~ 8
-45.9%
-18.5%
-61.9%
-50.0%
FROM PREVIOUS YEAR
FROM PREVIOUS QUARTER
FROM PREVIOUS YEAR
FROM PREVIOUS QUARTER
WESTSIDE
3RD QUARTER 2023 KEY METRICS CONDOS SALES PRICE ~ $289,000
SOLD PRICE/LIST PRICE ~ 98.4%
-1.2%
-3.7%
-1.6%
-0.8%
FROM PREVIOUS YEAR
FROM PREVIOUS QUARTER
FROM PREVIOUS YEAR
FROM PREVIOUS QUARTER
#UNITS SOLD ~ 166
AVERAGE DAYS ON MARKET ~ 16
3.8%
7.8%
128.6%
-15.8%
FROM PREVIOUS YEAR
FROM PREVIOUS QUARTER
FROM PREVIOUS YEAR
FROM PREVIOUS QUARTER
TOWNHOMES SALES PRICE ~ $493,083
SOLD PRICE/LIST PRICE ~ 100.0%
8.3%
-6.3%
0.0%
0.6%
FROM PREVIOUS YEAR
FROM PREVIOUS QUARTER
FROM PREVIOUS YEAR
FROM PREVIOUS QUARTER
#UNITS SOLD ~ 94
AVERAGE DAYS ON MARKET ~ 18
-6.0%
-17.5%
100.0%
28.6%
FROM PREVIOUS YEAR
FROM PREVIOUS QUARTER
FROM PREVIOUS YEAR
FROM PREVIOUS QUARTER
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