For several years now, listing agents have been labeling the majority of intown neighborhoods as "hot." But what does that temperature mean for the bottom line of Atlanta's homebuyers?
In hindsight, it means hundreds of thousands of dollars in some cases.
For this look down memory lane, we revisited property spotlights of Curbed Atlanta past to get an idea, at least anecdotally, of how things have changed in the last two or three years.
Spoiler alert: This market is radically different. That could be uplifting or extremely depressing news.
Let's begin in Pre-Bidding War Central Decatur.
Back in early 2013, $599,000 would bag a sterling five-bedroom house with loads of marble and a detached garage (this was pre-garport and carage Decatur), all renovated by the architect who lived there. (Well, this place sold for about $40,000 over asking, so maybe bidding wars were a thing then, too).
For what it's worth, the current Zestimate is $807,000.
Remember when Cabbagetown actually had homes for sale?
Try to imagine this: By early 2012, this swell three-bedroom bungalow with more than 2,300 square feet had been languishing on the market for 114 days with a slowly discounting list price of $375,000. And then it sat. And sat.
It sold almost a year later for $370,000.
Even with a $279,000 price tag, this renovated, three-bedroom bungalow in Kirkwood had all sorts of trouble moving in the summer of 2013. Chirped one Curbed commenter: "Rip off. The fact that someone even THINKS they can get this price tells me there is a HUGE bubble going on." (It eventually sold, seven months later, for $265,000.)
This urbanist's dream of a loft eventually traded in 2013 for an even $800,000 — for almost 3,400 square feet on Peachtree Street in Midtown. (Granted, the HOA fees at this particular building are notoriously hefty).
But in a reasonably comparable Midtown building today, that price fetches about half as much square footage.
Way back in December 2012, $399,000 got a foot in the door — and a totally livable three-bedroom bungalow — in Candler Park.
And lest we forget this contemporary home in the Old Fourth Ward, which went for $396,000 just three years ago. Boasting three levels and skyline views, the Epic Development offering helped usher in the surge of modern-style residences in Old Fourth Ward.