An Atlanta Neighborhood ComparisonWe reviewed all the home sales statistics in five popular and highly sought-after Atlanta neighborhoods - Morningside, Grant Park, Brookhaven, Kirkwood and Oakhurst - to see which ones have the best appreciation rate year over year.
Over the last two years, we've had some serious inventory issues and home prices are rising so quickly that many buyers are priced out of several Intown Atlanta neighborhoods. Below are five popular Atlanta and their appreciation rate from the same time last year. If you are a homeowner in one of these hot neighborhoods, CONGRATS!
A few years ago, we would have guessed that Oakhurst and Brookhaven would be the hottest Atlanta real estate markets, but things are a'changing!
Average Sales Price by Atlanta Neighborhood
Percentage increase from 1Q 2015 to 1Q 2016
Are you surprised that Kirkwood was the winner??
With a 24% increase in the average home sales price this has to break all records! Thanks to the historic charm, active neighborhood association, new restaurants / developments and affordable housing (average in the high $300s), it is easy to see why this Intown Atlanta community is in high demand with home buyers. See all the current homes for sale in Kirkwood.
Atlanta's Grant Park neighborhood came in at #2 with a 20% increase in the average home sales price. This popular 'hood offers buyers even more historic charm with Victorians, Four Squares and Craftsman bungalows lining the streets, as well as one of Atlanta largest parks. great festivals and of course, affordable Intown home prices that also average in the high $300s.
Over the last few years, Oakhurst, Morningside and Brookhaven experienced exponential growth in the average sales price, but as their local markets begins to stabilize, the annual appreciation rates are slowing down a bit. Brookhaven is now more in line with the historical average of 2% to 3% appreciation per year, while Oakhurst and Morningside are still holding strong at 7.4% and 13.6% respectively.
If there is an Atlanta neighborhood that we didn't cover in this report that you would like included in our next update, please let us know! Also, if you are curious about your home's current value, you can get an instant value of your home with our nifty new tool.
See the full Atlanta Real Estate Reports by Atlanta Neighborhood
This Atlanta real estate and property values update was brought to you by the Nest Atlanta Real Estate Group at eXp Realty. 1Q 2015 and 1Q 2016 home sales data was extracted from the Atlanta First MLS (FMLS) and analyzed by Kerry Lucasse. Information is deemed reliable but not guaranteed.