14 Feb Architects in Atlanta consider the housing market forecast for 2019
Last year, home prices in the Atlanta area rose by approximately 13%. That’s significantly higher than the increase in housing prices for the country as a whole. You don’t have to be an experienced home builder in Atlanta to understand that our local real estate market was humming along in 2018. Architecture firms in Atlanta aren’t the only ones wondering if that trend will continue in 2019.
Housing market reports for 2019
Highlights from Zillow’s report include:
- The median home value in Atlanta is $259,200, which represents an increase of 13.7 percent over the past year.
- Zillow predicts home values will rise 6.6 percent within the next year.
- The median list price per square foot in Atlanta is $229, which is higher than the Atlanta-Sandy Springs-Roswell Metro average of $125.
- The median price of homes currently listed in Atlanta is $319,000 while the median price of homes that sold is $224,000.
On January 1, MetroDepth published a report on Atlanta’s housing market that caught the attention of more than one Atlanta architect. This report also predicts that home prices in our area will continue to increase at a more modest pace. The increases might be less than what we saw last year, but MetroDepth says that this market is still outperforming national averages.
Their thinking is backed up by Zillow’s last Home Price Expectation Survey of 2018, which ranked Atlanta as one of the top three real estate markets expected to outperform national averages.
The MetroDepth report also looked at supply and demand. “One of the most notable changes in Atlanta’s real estate market is inventory,” they said. “Like most major cities across the country, Atlanta suffered from a shortage of homes for sale over the past few years. But that was beginning to change toward the end of 2018. In 2019, buyers should have more properties to choose from (compared to those who purchased homes during 2017 or 2008).”
If it looks like 2019 is the year that your luxury house plans in Atlanta are going to come true, please remember that you can find complete Atlanta home design solutions at Origination Design. We have some of the most talented architects and interior designers in Atlanta.