New format and neighborhoods added to report

With all the development I tell you about on the Upper Westside and Westside, I decided it was high time to reformat the report because many neighborhoods that once called themselves Buckhead, are now calling themselves Upper Westside–aka Westside–or West Midtown–aka Westside. Now when you’re house hunting in the Upper Westside, you know which neighborhoods to target.

I also added new elementary schools and neighborhoods because of their increase in popularity:

• West Midtown: Atlantic Station, Knight Park/Howell Station and Home Park in the Centennial Place Elementary school district
• North Brookhaven – North Brookhaven, Lynwood Park, Murphy-Candler Park and Sexton Woods in the Montgomery Elementary School

And now onto the numbers…

We continue to see steady positive growth in metro Atlanta. In Cobb, DeKalb, Forsyth, Fulton and Gwinnett counties, the average sales price for single family detached homes sold in February 2018 was $322,128, or an increase of 8% over February 2017, and a 1% increase in the total number of homes sold.

While low inventory will continue to be an issue in 2018, putting pressure on sales price, Atlanta is still a really affordable region in the country. As I wrote about earlier this month, Forbes reported Atlanta metro homes are undervalued by 7% compared to the historic ratio of price and local income. Don’t be shy if you want to buy in these low inventory neighborhoods. I have tactics to find homes that are not on the market yet.

The area covered by the Hatch Neighborhood Report also continues steady positive growth. The number of sales and average sales price are both up 1% from 2017. ASP in February was $798,897 and the total number of sales was 305.

Check out how specific neighborhoods are performing by downloading this issue.

Don’t see your neighborhood listed in The Hatch Neighborhood Report? Comment below and I’ll start tracking the numbers for you!

The Hatch Neighborhood Report compares year-to-date sales data to the previous year to measure the health of the housing market of Buckhead and the surrounding areas, and to compare their sales activity to the metro area as a whole. Reporting sales activity for the year allows us to identify top-performing neighborhoods.