Keller Knapp Realty 3rd Quarter 2023 Market Report

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

DECATUR OFFICE 715 EAST LAKE DR, DECATUR, GA 30030 404-370-0092

KELLERKNAPPREALTY.COM MIDTOWN OFFICE 1027 MONROE DR, ATLANTA, GA 30306 404-594-8700

EAST ATLANTA OFFICE 471-A FLAT SHOALS AVE SE, ATLANTA, GA 30316 404-254-5206

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.