SImple Atlanta Georgia home with brick exterior.
Data Georgia

Market Research: Average Home Price in Atlanta

The Atlanta real estate market is currently experiencing a boom with the median price currently being $410,000 in January of 2023. In the last twelve months, the average home price in Atlanta has increased 7.5%. Despite this, the city is still considered a buyer’s market. If you are considering buying a house in Atlanta, it’s best to do your research. It’s important to determine your long-term goals and budget before you start shopping.

While the Atlanta housing market has experienced an uptick in sales, the number of homes for sale is still relatively low. As the population increases, the demand for new and existing homes will also increase. This means the Atlanta housing market is expected to continue to be strong for many years to come.

Home prices in Atlanta are expected to rise 5% each year over the next few years. However, these numbers are based on a projection of how the economy will perform. Despite this, a study released by the Florida Atlantic University showed that national home prices have been increasing more than 25 percent in the past twenty-five years.

While the market is still a buyers’ market, it will likely begin to slow down in the near future. That’s because high mortgage rates are causing many prospective homebuyers to give up. When this happens, the overall supply of available homes is also reduced, resulting in a shortage. Therefore, the average home price in Atlanta will eventually fall.

The real estate market in Atlanta is dominated by a lack of inventory. At the moment, there are only about 1 million homes for sale in the city. This makes Atlanta one of the nation’s most competitive markets. Because of this, the average home price in Atlanta is one of the most expensive cities in the country.

One of the reasons why the average home price in Atlanta is high is that there is a high demand for homes. There are also people who have moved to Atlanta for jobs or for fresh starts. These are called millennials. According to citybizlist, more than a quarter of the city’s population are millennials. Since these people have more education, higher incomes, and are less likely to be renters, real estate investors are profiting from their presence in the city.

Several neighborhoods in Atlanta have undergone significant revitalization efforts. Today, the city is known as one of the fastest-developing metros in the country. With a number of major colleges and universities in the area, Atlanta has an attractive mix of businesses and attractions.

Buying a home in Atlanta is a good idea if you’re looking to invest in a property. Real estate investors usually make their money by buying in places where the population is growing. Millennials are especially likely to buy a home in Atlanta because they’re young and have more disposable income.

Buying a home in Atlanta may be the right move for you, but it is also important to do your research and make an accurate budget. You don’t want to make a bad decision.