Metro Atlanta home prices surged 4.5 percent from 2019 to 2020, and some homeowners benefited from the increase more than others, according to the AJC 2020 Metro Atlanta Home Sales Report.
The median price of a new construction or existing home in the metro Atlanta area was $280,000 in April 2020. For the purposes of the study, sales prices were tracked in ZIP codes in DeKalb, Cobb, Fulton, Gwinnett, Forsyth and Clayton counties. The sales covered the 12-month period from May 1, 2019 to April 30, 2020. Data came from Smart Real Estate Data of Marietta.
Steep changes in year-over-year data may reflect the impact of the coronavirus pandemic on the number of homes listed and sold beginning in March 2020. Median home prices recorded from March 1, 2019 to Feb 29, 2020 rose by 3.8 percent in the Metro Atlanta area when compared with the previous 12 months.
The median price is considered a better reflection of what consumers will find in the marketplace. Median price indicates that half the homes were priced above and half below the midpoint. An average number can be distorted by a few wildly expensive or very inexpensive home sales.
The ZIP codes showing the most appreciation in the past year were:
1. 30315 ZIP code - 587 homes sold for a median price of $194,900, an increase of 39.2 percent over the 12-month period. The overall number of homes sold reflects 14.1 percent new construction and 85.9 percent existing homes. This ZIP code touches the areas of East Point and Atlanta and the counties of DeKalb and Fulton.
2. 30268 ZIP code - 168 homes sold for a median price of $245,258, an increase of 36.3 percent over the 12-month period. The overall number of homes sold reflects 31.5 percent new construction and 68.5 percent existing homes. This ZIP code touches the areas of Palmetto, Chattahoochee Hills and Fairburn and the counties of Coweta and Fulton.
3. 30354 ZIP code - 232 homes sold for a median price of $194,400, an increase of 36.2 percent over the 12-month period. The overall number of homes sold reflects 25.4 percent new construction and 74.6 percent existing homes. This ZIP code touches the areas of Hapeville, College Park, Atlanta and East Point and the county of Fulton.
4. 30314 ZIP code - 326 homes sold for a median price of $150,000, an increase of 26.1 percent over the 12-month period. The overall number of homes sold reflects 0.9 percent new construction and 99.1 percent existing homes. This ZIP code touches the area of Atlanta and the county of Fulton.
5. 30363 ZIP code - 197 homes sold for a median price of $332,000, an increase of 25.3 percent over the 12-month period. The overall number of homes sold reflects 14.7 percent new construction and 85.3 percent existing homes. This ZIP code touches the area of Atlanta and the county of Fulton.
6. 30318 ZIP code - 1,126 homes sold for a median price of $334,700, an increase of 24.7 percent over the 12-month period. The overall number of homes sold reflects 20.3 percent new construction and 79.7 percent existing homes. This ZIP code touches the area of Atlanta and the county of Fulton.
7. 30305 ZIP code - 866 homes sold for a median price of $648,000, an increase of 21 percent over the 12-month period. The overall number of homes sold reflects 21.6 percent new construction and 78.4 percent existing homes. This ZIP code touches the area of Atlanta and the county of Fulton.
8. 30297 ZIP code - 200 homes sold for a median price of $90,500, an increase of 19.9 percent over the 12-month period. The overall number of homes sold reflects 0.5 percent new construction and 99.5 percent existing homes. This ZIP code touches the areas of Lake, Forest Park and Conley and the county of Clayton.
9. 30310 ZIP code - 663 homes sold for a median price of $227,000, an increase of 17.9 percent over the 12-month period. The overall number of homes sold reflects 2.4 percent new construction and 97.6 percent existing homes. This ZIP code touches the area of Atlanta and the county of Fulton.
10. 30083 ZIP code - 618 homes sold for a median price of $170,000, an increase of 17.2 percent over the 12-month period. The overall number of homes sold reflects 18.9 percent new construction and 81.1 percent existing homes. This ZIP code touches the areas of Pine Lake, Scottdale and Stone Mountain and the county of DeKalb.
The Great Recession and the housing crash throttled sales all over, triggering thousands of foreclosures and decimating home values. The trend largely reversed as the region emerged from recession, but some areas have seen greater home price appreciation than others. According to the U. S. National Bureau of Economic Research, the recession began in December 2007 and ended in June 2009, lasting 18 months.
The ZIP codes showing the most appreciation since the recession ended in 2009 were:
1. 30310 ZIP code - 663 homes sold for a median price of $227,000, an increase of 845.8 percent since April 2010 The overall number of homes sold reflects 2.4 percent new construction and 97.6 percent existing homes. This ZIP code touches the city of Atlanta and the county of Fulton.
2. 30314 ZIP code - 326 homes sold for a median price of $150,000, an increase of 650 percent since April 2010 The overall number of homes sold reflects 0.9 percent new construction and 99.1 percent existing homes. This ZIP code touches the city of Atlanta and the county of Fulton.
3. 30032 ZIP code - 934 homes sold for a median price of $219,250, an increase of 607.3 percent since April 2010 The overall number of homes sold reflects 13.3 percent new construction and 86.7 percent existing homes. This ZIP code touches the cities of Avondale Estates, Decatur, McAfee, Belvedere Park and Atlanta and the county of DeKalb.
4. 30315 ZIP code - 587 homes sold for a median price of $194,900, an increase of 551.8 percent since April 2010 The overall number of homes sold reflects 14.1 percent new construction and 85.9 percent existing homes. This ZIP code touches the cities of East Point and Atlanta and the counties of DeKalb and Fulton.
5. 30354 ZIP code - 232 homes sold for a median price of $194,400, an increase of 550.2 percent since April 2010 The overall number of homes sold reflects 25.4 percent new construction and 74.6 percent existing homes. This ZIP code touches the cities of Hapeville, College Park, Atlanta and East Point and the county of Fulton.
6. 30311 ZIP code - 394 homes sold for a median price of $185,000, an increase of 511.6 percent since April 2010 The overall number of homes sold reflects 6.3 percent new construction and 93.7 percent existing homes. This ZIP code touches the city of Atlanta and the county of Fulton.
7. 30337 ZIP code - 178 homes sold for a median price of $241,278, an increase of 392.4 percent since April 2010 The overall number of homes sold reflects 30.3 percent new construction and 69.7 percent existing homes. This ZIP code touches the cities of Atlanta, East Point and College Park and the county of Fulton.
8. 30344 ZIP code - 519 homes sold for a median price of $172,000, an increase of 333.2 percent since April 2010 The overall number of homes sold reflects 14.5 percent new construction and 85.5 percent existing homes. This ZIP code touches the cities of Atlanta, College Park, East Point and Hapeville and the county of Fulton.
9. 30035 ZIP code - 290 homes sold for a median price of $161,500, an increase of 325 percent since April 2010 The overall number of homes sold reflects 14.8 percent new construction and 85.2 percent existing homes. This ZIP code touches the cities of Decatur and Redan and the county of DeKalb.
10. 30238 ZIP code - 676 homes sold for a median price of $148,000, an increase of 321.2 percent since April 2010 The overall number of homes sold reflects 20.6 percent new construction and 79.4 percent existing homes. This ZIP code touches the cities of Irondale, Bonanza, Jonesboro and Fayetteville and the counties of Fayette and Clayton.
Since 1996, Smart Real Estate Data has been a widely regarded source for residential real estate data in the Southeast. The business provides data to builders, developers, appraisers and bankers. It now covers markets in Georgia, Florida and the Carolinas.
This article was generated automatically by AJC Bot, a computer software application that analyzed structured information, such as data, and applied it to text articles based on templates that were created by AJC writers and editors. An AJC editor reviewed the work before publishing. You can report errors or bugs to homesalesreport@coxinc.com. For more: How the AJC Bot was used for articles in the AJC 2020 Metro Atlanta Home Sales Report.
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