Last week we attended the metrostudy Atlanta Housing Market Fourth Quarter 2014 Briefing. Metrostudy conducts field research on 22 Metro Atlanta counties each quarter to determine their data. One of the biggest takeaways from the briefing was about Atlanta Job Growth. Metro Atlanta is now averaging 51,000+ new jobs annually. Total employment history is up 177,100 from three years ago, up 241,000 from five years ago and up 35,700 from the PEAK in December of 2007. Metro Atlanta set a new record in the fourth quarter of 2014 with 2.51 million people total employed!
Here are some additional facts about the current state of the Metro Atlanta real estate market:
- Resale months of supply is down to 3.6 months in the 4th quarter.
- 4th quarter resale prices are up for the second straight year.
- The median price for homes under 2,000 sq ft is $166,000 which is up 11%.
- The median price for homes over 2,000 sq ft is $240,000 which is up 6%.
- Quarterly new home starts for detached units are up 21% with closings up 16%.
- Quarterly new home starts for attached units are up 3% with closings up 38% (98% of the activity is north of I-20.)
- The 4th quarter median new home price is $271,700 which is up 4% year over year.
- 19% of all new homes were built in Gwinnett County.
Epic Development is currently building in Brookhaven, Grant Park, Old Fourth Ward, Ormewood Park, Reynoldstown, Riverside and Sandy Springs. View all the details of our current listings here. For more information about our homes, contact Scott Eaves at (404) 518-3820 or scott@epicdevelopment.com.