Ormewood Park Quarter 1 2021 Market Snapshot

MARKET SNAPSHOT: Ormewood Park

•

BROOKHAVEN + CHAMBLEE

• • • • • • • •

INTOWN ATLANTA NORTH DECATUR SOUTHEAST ATLANTA

SOUTHWEST ATLANTA SOUTH DECATUR WESTSIDE NORTH ATLANTA TUCKER

10 KEY AREAS TO WATCH IN METRO ATLANTA!

AREA MARKET REPORT

Overall, metro Atlanta continues to show strong buyer demand, low inventory and increasing prices.

MARKET SNAPSHOT: SOUTHEAST ATLANTA

This month, we visit Southeast Atlanta and the rising gem…Ormewood Park

SOUTHEAST ATLANTA Southeast Atlanta continues to draw buyers from all walks of life. Commercial development along the Memorial Corridor, improving schools and the promise of the future Beltline have created stable communities in the northwest neighborhoods. The areas more south and east present exciting opportunities in Atlanta for investors and first-time home buyers.

SOUTHEAST ATLANTA ~ HIP, FUN…UP AND COMING. Summerhill/Peoplestown, Grant Park, Chosewood Park/Boulevard Heights/Benteen, Lakewood, Ormewood Park, East Atlanta, East Lake Terrace

SOUTHEAST ATLANTA $ PER SQ FT MEDIAN SALES PRICE

DOM

33.3%

18.5%

# UNITS

0.6%

12.4%

98.5% SP/LP RATIO

Like many intown areas, Southeast Atlanta has continued to exhibit a strong seller’s market. Compared to Q1 2020, Unit Sales overall were balanced, with wild swings between neighborhoods. Lower Days on Market, with increasing prices were seen in most neighborhoods.

NEIGHBORHOOD SPOTLIGHT: ORMEWOOD PARK Ormewood Park is no longer Atlanta’s best kept secret. Once a quiet community nestled between Grant Park and Ormewood Park, the neighborhood has seen a tremendous gain in popularity for families seeking good schools, intown convenience and walkability.

Ongoing commercial development and the promise of the future Beltline, Ormewood Park is a great option for intown Atlanta home buyers.

Q1 2021 Neighborhood Statistics • 22 Homes Sold (-4.3%) • Median Price $448K (+10.0%) • Average DOM = 9 (-79.3%)

• SP/LP Ratio = 102% • $ per SQ FT = $309.04 (+15.8%)

LOCAL REAL ESTATE EXPERTISE… LIKE ONLY A NEIGHBOR CAN.