By Bill Adams, MBA, CCIM, CRB, ALC
Welcome to the latest update on the Intown Atlanta real estate market.
The residential real estate market in the first quarter of 2022 was down slightly from the
first quarter of 2021 but was still a very strong market. The average sales price for the
overall Intown Atlanta market was $640,305, an increase of 17% in the past year. The
typical house was on the market for only 28 days, a decrease of 33% from a year earlier. A
total of 2,419 properties sold over the last 12 months, which was a decrease of 7% from
Of the 39 Atlanta markets that we survey, five markets had an average sales price of more
than $1 million. Ansley Park, with an average sales price of $1,887,357 will probably be the
first Intown Atlanta neighborhood to break the $2 million barrier later this year. At the other
end of the spectrum, East Point, with an average sales price of $262,309, is the least
expensive community that we survey. As I have mentioned in previous reports, my personal
definition of an “affordable house” is a property that sells for $250,000 or less. Using that
metric, none of the 39 markets is affordable.
Only five markets in our survey experienced a decline in average sales price. Most of these
markets have a limited number of transactions and thus can easily experience rapid swings
from positive to negative territory and back again because of the limited data.
Wondering about how interest rates affect these stats? This report looks backward at the
data and thus is not affected by the recent increase in home mortgage interest rates. Over
the next few months rising rates may put a damper on house prices though. However, the
supply of properties for sale is still constrained and demand is still very strong. Unless
interest rates exceed 6%, I do not expect any significant decline in home prices.
Please contact me at firstname.lastname@example.org if you have any questions or comments.