Is Northwest Atlanta, GA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Northwest Atlanta was a Seller's Market.
Key Takeaway
Northwest Atlanta is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Northwest Atlanta, GA
How much do homes in Northwest Atlanta, GA cost?
Median Sold Price
$386,555
$251/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Northwest Atlanta have sold for 4% more than they did a year ago.
Summary: The median home sold price in Northwest Atlanta was $386,555 in May 2024, up 4% from last year, and the median price per square foot was $251.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $210K | $204K | -2.9% |
| 2 Bedrooms | $295K | $315K | +6.8% |
| 3 Bedrooms | $373.1K | $375K | 0.5% |
| 4 Bedrooms | $515K | $539.5K | +4.8% |
| 5+ Bedrooms | $550K | $604.7K | +10.0% |
Summary: Northwest Atlanta housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 2.9%, 2 bedroom homes increased by 6.8%, 3 bedroom homes increased by 0.5%, 4 bedroom homes increased by 4.8%, and 5+ bedroom homes increased by 10%.
Median Sold Price Compared To Nearby Neighborhoods
| Carver Hills | $160K | $265K | +65.6% |
| Northwest Atlanta | $371.8K | $386.5K | +4.0% |
| West Highlands | $565K | $580K | +2.7% |
Housing Supply in Northwest Atlanta, GA
How many homes are available in Northwest Atlanta, GA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 480 | 566 | +17.9% |
Summary: The Northwest Atlanta real estate market had 566 homes for sale in May 2024, a 17.9% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 12 | 17 | +41.7% |
| 2 Bedrooms | 87 | 91 | +4.6% |
| 3 Bedrooms | 239 | 278 | +16.3% |
| 4 Bedrooms | 104 | 129 | +24.0% |
| 5+ Bedrooms | 38 | 51 | +34.2% |
Summary: The Northwest Atlanta housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 41.7%, 2 bedroom homes increased by 4.6%, 3 bedroom homes increased by 16.3%, 4 bedroom homes increased by 24%, and 5+ bedroom homes increased by 34.2%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 98 | 92 | -6.1% |
Asking Price vs. Sold Price
44 Homes Were Sold
Under Asking
22 Homes Were Sold
At Asking
22 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Northwest Atlanta, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 92 homes were sold or pending in Northwest Atlanta in May 2024, down by 6.1% month-over-month. Of the 88 sold homes, 50% were sold under asking, 25% were sold at asking, and 25% were sold over asking.
Days on Market for Northwest Atlanta, GA
How long does it take to sell a home in Northwest Atlanta, GA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 35 Days | 33 Days | -6.7% |
Summary: Homes in Northwest Atlanta had an average of 33 days on market in May 2024, down by 6.7% compared to last year.
Breakdown of Home Sale Times
52 Homes Were Sold
Under 30 Days
30 Homes Were Sold
In 30 - 90 Days
10 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Northwest Atlanta are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 92 homes were sold in Northwest Atlanta; 57% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.
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