The Overall Value of Atlanta Real Estate Is Down, But There’s More to the Story – Pt.2
Okay, enough with the bad news! Previously, we examined which of Atlanta’s ITP (inside the Perimeter) neighborhoods took the hardest hits when it came to year-over-year change in home value, as calculated by Zillow. The number went as high as 30% – ouch! While overall metro values are down in Atlanta, there are healthy pockets of progress as well. Let’s take a look at where that’s happening intown, as well as in the suburbs. Keep in mind that data is not yet available for every single neighborhood.
Top Five Increases in Y-o-Y Home Value for July 2012 (ITP Atlanta Neighborhoods)
- Browns Mill Park: Notable for its two parks and quick access to the airport, this southside neighborhood characterized by ranch homes tops the list with a 15.1% increase in home value.
Zillow Home Value Index: $55,000
- East Lake: East Lake has made significant gains with the redevelopment of a formerly downtrodden housing development and renovation of its historic building stock. All that hard work has paid off: values are up 14.1%.
Zillow Home Value Index: $207,900
- Kirkwood: Just about halfway between Atlanta and Decatur, Kirkwood is a former streetcar suburb with a charming village area and a varied housing stock. Values in Kirkwood have increased 10.7%
Zillow Home Value Index: $191,700
- Candler Park: The revitalization of Candler Park has been underway for decades, so it’s a little harder to find a steal here than other intown neighborhoods. Values in this eastside neighborhood are up 10%.
Zillow Home Value Index: $352,900
- Reynoldstown: It might be playing catch up to the success of neighboring Cabbagetown, but things are looking up for Reynoldstown, which has transformed into an artists’ enclave in recent years. Values have increased 9.4%.
Zillow Home Value Index: $164,1000
Meanwhile, a snapshot of the ‘burbs from increasing to decreasing:
|Area||% change||Zillow Home Value Index|