2019 ATLANTA ANNUAL REPORT We’Re Here to Answer the Question HOW’S the MARKET?
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2019 ATLANTA ANNUAL REPORT We’re here to answer the question HOW’S THE MARKET? Happy New Year! 2019 was fantastic, thanks to wonderful clients like you. We know that buying or selling a home is an incredibly emotional process, so thank you for trusting us to be there with you every step of the way. As we look forward to the new year, let’s also look back on 2019 to explore the real estate market’s performance. At Nest, we make it a priority to stay informed on market trends so we can pass along the most up-to-date information to you. So whether you’re considering selling your existing home, purchasing a new home, or you simply enjoy keeping tabs on the real estate market in general, it’s our pleasure to present you with the 2019 Nest Realty Annual Report. Have questions about the report, or a friend who’s interested in buying or selling? We’d love to hear from you! Thank you once again for trusting us with your real estate needs. We wish you a happy new year, from our nest to yours! Nest Realty atlanta CONTENTS HOW’S THE MARKET? 4 CANDLER PARK/LAKE CLAIRE 21 2019 YEAR IN REVIEW 5 CITY OF CHAMBLEE 21 HOW TO READ THIS 6 CITY OF DECATUR 22 CITY OF DORAVILLE 22 FULTON COUNTY DRUID HILLS 23 NORTH FULTON 7 CITY OF DUNWOODY 23 SOUTH FULTON 7 EAST ATLANTA/ORMEWOOD 24 ANSLEY PARK 8 PARK BUCKHEAD 8 EAST LAKE 24 CABBAGETOWN 9 EDGEWOOD 25 GRANT PARK 9 KIRKWOOD 25 INMAN PARK 10 LAVISTA PARK 26 MIDTOWN 10 NORTH DRUID HILLS/EMORY 26 MORNINGSIDE/LENOX PARK 11 NORTHLAKE/EMBRY HILLS 27 OLD FOURTH WARD 11 CITY OF TUCKER 27 PONCEY-HIGHLAND 12 COBB COUNTY REYNOLDSTOWN 12 EAST COBB 28 CITY OF ROSWELL 13 CITY OF MARIETTA 28 CITY OF SANDY SPRINGS 13 CITY OF SMYRNA 29 SOUTH ATLANTA 14 NEIGHBORHOODS VININGS 29 SOUTHWEST BELTLINE 15 NEIGHBORHOODS GWINNETT COUNTY SUMMERHILL/ CITY OF DULUTH 30 16 PEOPLESTOWN CITY OF LAWRENCEVILLE 30 VIRGINIA-HIGHLAND 16 CITY OF LILBURN 31 TRI-CITIES 17 CITY OF NORCROSS/CITY OF 31 WEST MIDTOWN 18 PEACHTREE CORNERS WESTSIDE 18 CONDOS - MIDTOWN 32 ATLANTA BELTLINE 19 CONDOS - BUCKHEAD 32 DEKALB COUNTY CONDOS - DOWNTOWN 33 CITY OF AVONDALE ESTATES 20 CONDOS - INTOWN 33 CITY OF BROOKHAVEN 20 METRO ATLANTA LUXURY 34 OVER $1M ATLANTA MARKET At the start of every year, we sit down to answer increases in the median sales price, days on market, the question we get asked more than any other: and inventory levels, and saw a decrease in the total “How’s the market?” At Nest Realty, we understand number of sales. 2019 is the first year recently that the importance of providing our clients with the buyers had more choice and negotiating power as insight to make confident, informed decisions. One many of the markets shifted from a low-inventory of the ways we achieve this goal is by analyzing seller’s market to more of a balanced market. vast amounts of market data and delivering it in a The neighborhoods surrounding the BeltLine relatable fashion. We are excited to release our 2019 continue to be in high demand, with continued Nest Realty Atlanta Annual Report. investment and development occurring. This report provides a comprehensive look at how As the Atlanta metro is vast, this report is only our local market performed not only last year, but in a sampling of some areas. If you would like years past as well. Whether you’re considering selling more information or have questions about any your current home, buying a home, or you’re just neighborhoods not contained in this report, please interested in learning more about our local real estate do not hesitate to ask. We will be happy to share this market, we hope this report serves as a valuable tool. information with you. The Atlanta area real estate market showed signs of stabilizing in 2019. In the overall metro area, we saw 4 Nest Realty Atlanta YEAR IN REVIEW $1,382,000,000 6 TOTAL SALES VOLUME EVENTS HOSTED Thanks to clients like you, Nest Our Nest office hosted six events this continues to grow year after year year including three Drink it Forwards, across all markets. Crawfest, Falling For Atlanta Client Appreciation, and Howl-O-Ween. 6 14 ATLANTA CHARITIES SUPPORTED LOCATIONS Our support went to Ahimsa House, Nest Realty has grown to 14 Enduring Hearts, Lost-n-Found Youth, locations across four states, with Giving Kitchen, Zaban Paradies Center for approximately 300 agents selling Homeless Couples, and Ruffus Rescue. 4,000 homes—a total of $1.38 billion in sales volume. 3,905 500 TRANSACTIONS STEPS Nesters helped thousands of It takes 500 steps to get from the clients in our 14 locations buy, sell, Nest Atlanta office to the BeltLine and find a new nest. and Ponce City Market. 5 HOW TO READ YOUR REPORT We designed our graphs to give you a quick understanding of how the total number of sales has grown year over year, along with the median price. This knowledge can help support your decision to buy or sell. TOTAL SALES VS. MEDIAN PRICE 4,000 $320,000 3,800 $300,000 3,600 $280,000 3,400 $260,000 3,200 $240,000 3,000 $220,000 2015 2016 2017 2018 2019 The graph table is a quick look at how the area has changed year after year. You can always check the side “trend” column to get a quick glance at how the market is doing. Just remember, a down arrow isn’t always scary. Sometimes you want the arrow to point down for days on market. This means that listed homes are selling quicker than in previous years. MSA 2017 % 2018 % 2019 TREND Total Sales 3,514 5.41 3,704 4.45 3,869 Median Price $275,000 7.27 $295,000 4.07 $307.000 Price per Sq. Ft. $149 8.05 $161 1.24 $163 Days on Market 77 -12.99 67 -11.94 59 Avg. List Price $351,523 8.04 $379,791 0.93 $383,329 FLAT Our candlestick graphs help explain the Nest areas more clearly. The top graph below shows the lowest and highest prices paid for a house within an entire Nest area last year, along with a block that shows you the price range in which the majority of the homes were sold. A similar graph, at the bottom of the page, defines the range of lot sizes available, along with a block that shows the range in which most lot sizes fell this year. first line is minimum Last line is average range maximum Price Range $0 $250,000 $500,000 $750,000 $1 M + Lot Size (in acres) 0 2.5 5.0 7.5 10 + average lot size 6 NORTH FULTON FULTON COUNTY 1998 15.2 3,648 2,173 AVERAGE % OF HOMES AVERAGE AVERAGE YEAR HOUSES LESS THAN 5 DETACHED ATTACHED BUILT YEARS OLD SQ. FT. SQ. FT. 2018 % 2019 TREND Total Sales 1,804 2.72 1,853 Median Price $465,000 3.23 $480,000 Price per Sq. Ft. $150 2.67 $154 Days on Market 51 3.92 53 Avg. List Price $557,186 4.30 $581,158 TOTAL SALES VS. MEDIAN PRICE Avg. Sales Price $544,462 4.12 $566,874 2,000 $475,000 Total Volume $982,209,991 6.94 $1,050,417,406 1,900 $450,000 1,800 $425,000 1,700 $400,000 Price Range 1,500 $375,000 $0 $250,000 $500,000 $750,000 $1 M + 1,400 $350,000 Lot Size (in acres) 2015 2016 2017 2018 2019 0 2.5 5.0 7.5 10 + SOUTH FULTON FULTON COUNTY 2003 31.3 2,488 1,641 AVERAGE % OF HOMES AVERAGE AVERAGE YEAR HOUSES LESS THAN 5 DETACHED ATTACHED BUILT YEARS OLD SQ. FT. SQ. FT. 2018 % 2019 TREND Total Sales 1,586 11.79 1,773 Median Price $180,000 11.11 $200,000 Price per Sq. Ft. $82 7.32 $88 Days on Market 59 -18.64 48 Avg. List Price $198,639 12.01 $222,501 TOTAL SALES VS. MEDIAN PRICE Avg. Sales Price $195,345 11.91 $218,615 1,800 $220,000 Total Volume $309,817,874 25.11 $387,605,008 1,700 $200,000 1,600 $180,000 1,500 $160,000 Price Range 1,400 $140,000 $0 $250,000 $500,000 $750,000 $1 M + 1,300 $120,000 Lot Size (in acres) 2015 2016 2017 2018 2019 0 2.5 5.0 7.5 10 + 7 ANSLEY PARK FULTON COUNTY 1935 4.3 3,621 1,271 AVERAGE % OF HOMES AVERAGE AVERAGE YEAR HOUSES LESS THAN 5 DETACHED ATTACHED BUILT YEARS OLD SQ. FT. SQ. FT. 2018 % 2019 TREND Total Sales 30 -23.33 23 Median Price $1,145,000 1.75 $1,165,000 Price per Sq. Ft. $378 -2.97 $367 Days on Market 69 -13.04 60 Avg. List Price $1,442,727 -0.63 $1,433,648 TOTAL SALES VS. MEDIAN PRICE Avg. Sales Price $1,389,383 -0.71 $1,379,480 40 $1,300,000 Total Volume $41,681,500 -23.88 $31,728,050 35 $1,200,000 30 $1,100,000 25 $1,000,000 Price Range 20 $900,000 $0 $250,000 $500,000 $750,000 $1 M + 15 $800,00 Lot Size 2015 2016 2017 2018 2019 (in acres) 0 2.5 5.0 7.5 10 + BUCKHEAD FULTON COUNTY 1968 10.5 3,959 1,499 AVERAGE % OF HOMES AVERAGE AVERAGE YEAR HOUSES LESS THAN 5 DETACHED ATTACHED BUILT YEARS OLD SQ.