First quarter brings double digit growth in many neighborhoods

Well, I was very surprised when I finished generating the report this month. There are FIVE neighborhoods–priced under $1 million–that have home prices increasing by double digits over Q1 2017. In many of these neighborhoods, the number of sales decreased. Furthermore, many homes are selling at or above asking price, after receiving multiple offers.

For example, neighborhoods in the Bolton Academy school district experienced a 15% increase in average sales price, number of homes sold decreased 18%, and sales price is 100% of list price for January, February and March.

Some Buckhead neighborhoods logged over 30% growth!

The entire area covered by the report experienced an increase of 9% in average sales price for single-family detached homes over the first quarter of 2017–to $805,629–and a 4% decrease in the number of sales.

We can see this same scenario play out in the five-county metro area.* The average sales price jumped 8% to $330,316, while the number of sales are down 30% from 2017.

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!

*Cobb, DeKalb, Forsyth, Fulton and Gwinnett counties

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.