May Intown Market Report

By Bill Adams, President

Sales prices in the Intown Atlanta market continue to increase.  The values in the overall market experienced a year over year increase of 5% with an Average Sales Price of $738,246.  This Average Sales Price represented a 14% increase over the last two years.  The Number of Days on the Market is unchanged over the last 12 months at 33 days.  The Number of Units Sold is 12% less than last year at 1,518 houses.  This number of sales is 37% less than the number of sales two years ago. 

This month, we will examine the eight southwest Atlanta Intown neighborhoods we track in our report.  What were once very affordable communities have become less so over the past half decade.   However, four neighborhoods in this month’s report experienced a drop in Average Sales Price. It could be that these neighborhoods have hit a price ceiling.  Because many of these communities have a wide range of housing stock, it could also be that because of high interest rates, the less expensive houses in these communities are attracting more buyers.  Adair Park and Oakland City saw their Average Sales Price shrink by 10% over the last 12 months.  Prices in Peoplestown fell by 4% and Westview fell by 6% over the same period.  Below is a list of all eight communities:

In the five years since May 2019, all these communities experienced dramatic price appreciation.  Adair Park’s Average Sales Price is up 62%.  Capitol View is up 70%.

The Average Sales Price in Oakland City increased by 85%.  Peoplestown is up by 31% while Summerhill’s Average Sales Price increased by 105%. Sylvan Hills is up by 76%.

Westview increased by 56% and West End is up by 52%.  When compared with other communities in our Intown Market Report, most of these neighborhoods are still considered affordable.  You can still find houses in these neighborhoods that are below the Average Sales Price for the community.  Looking at these numbers, I will have to revise upward my own definition of what I consider affordable housing. 

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