Is Metro Atlanta's Real Estate Market Coming Back?

Residential real estate is hugely important to metro Atlantans, and Patch wants to know how you feel about the market's future.

Residential real estate has long been a cornerstone of metro Atlanta's economic health, and some reports indicate the market may be on the road to recovery.

Some private equity firms have reportedly seized on the metro area to scoop up residential foreclosure properties before the real estate market rebounds.

The Fulton County Board of Commissioners is looking to sell six properties for possible residential development in southwest Atlanta. Home sales are strong in the Virginia-Highland and Druid Hills neighborhoods, and there continue to be great deals found throughout DeKalb County, especially in the Tucker and North Druid Hills-Briarcliff communities.

East Atlantans certainly seem to be vested in their community for the long term, as are opposed to a new development that, they say, will increase traffic throughout their neighborhoods.

And the Midtown Alliance is supporting more than $80 million worth of improvements, including sidewalks and streetscapes.

Buckhead continues to produce extravagent homes, some that even come with fully featured outdoor spaces and amenities, and the new owner of The Colony Apartment complex in Stone Mountain wants to turn the property into upscale senior housing.

So our question to you is: Do you think metro Atlanta's housing and residential real estate markets are rebounding? Do you feel confident about your property's value, or are more queasy economic times just around the corner?

Related Items:

  • House Hunt: New Listings In Buckhead Featuring Outdoor Spaces.
  • Two Fairburn Road Commercial/Residential Properties Being Sold By Fulton County.
  • East Atlanta Resident Starts Online Letter Campaign Against Glenwood Place.
  • Midtown Alliance Capital Improvements Update.
  • House Hunt: $500K And Up.
  • .
  • New Owner Plans Affordable Senior Housing.
  • House Hunt: Great Deals In Tucker.
  • Recent Home Sales In Virginia Highland-Druid Hills.
Tim November 01, 2012 at 01:20 PM
The major driver of this slight rebound is that the banks are holding back on listing their foreclosed inventory. Some of this inventlry will be released next year most likely, while a lot of it will be sold to large investment firms for mass rental (this is already happening in Metro Atlanta). Intown is doing better, the Nothern suburbs are still very depressed.
JM Hurricane November 01, 2012 at 03:36 PM
We are most likely at a bottom but rebound? Select homes in Va-Hi and Buckhead have some potential but the broader market is static. Unfortunately job and income drivers propel the demand curve and Atlanta is just not turning the corner in that dept. The suburban inventory is enormous and ITP properties cannot compete on a value-added basis. I personally haven't renewed my passport to OTP as a result I'm well aware of the loss I will take on my Midtown condo.
David Bottomley November 01, 2012 at 04:53 PM
Here are some numbers from the latest Metrostudy Report (FYI, it's important to note that the Metro Atlanta area is large and so one neighborhood can be doing well while another is not). New housing starts this quarter are up 50% compared to a year ago and new home construction inventory is down more than 80%. Fifty percent sounds huge but it's an increase from a very low number. Metrostudy also reported unemployment here had dropped to 7.8% (the last number I had seen was 8.4%). Whichever is correct it shows that employment is increasing and that's a good indicator of an improving housing market. The best demand (and population increases) have been ITP and in the closer in counties such as Cobb and Gwinnett, while further out counties are more stagnant. A couple of notes. New home construction is more of an indicator for the suburbs as the intown market is more infill. However the intown market is improving as well. For various reasons there are fewer homes on the market. There were about 43,000 homes on the market in August (that's historically low) and that number is expected to decrease to 30,000 by the end of the year. So yes, housing in Atlanta is improving. (sorry I don't know how to add a hot link to the report but if you go to Metrostudy.com you can find it.
Atlanta Community Engagement Team November 04, 2012 at 02:11 PM
It's starting to rebound, however we must recreate quality neighborhoods for all Atlantans. There must be a healthy mix of residents in each community for all us to prosper. http://tinyurl.com/ben9w4g
Simon Campbell January 26, 2013 at 10:06 PM
I hear there are some really positive things happening in Atlanta these days. I just completed an infographic about Atlanta and it revealed that the rate of foreclosures is over half that of the rest of the state yet the income levels are about the same but the property values are almost doubled that of the Georgia average. http://www.bankforeclosuressale.com/wp/article-11214078.html


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