Although it won’t be complete until 2030, finished segments of the Atlanta Beltline have shown to have an effect on home values within the area, reports Knock.co. As the biggest revitalization project ever to occur in Atlanta, the Beltline is critical in the discussion of development in Metro Atlanta. As mentioned on Knock.co, yearly comparisons of median home prices and days on market of selected areas around the Beltline can be compared below.
Year-over-year, home prices within a two-mile radius of Tanyard Creek Park, close to the Northside Trail, have seen outstanding gains. In 2012, median prices were $250,061, 51.5 percent more than the overall median price in Atlanta. In 2016, median prices were 22 percent more than the overall median price in Atlanta within the same area. Despite steep prices, homes remained on the market for an average of 95 days.
In 2012, within a two-mile radius of Gordon White Park on the West End Trail, average times homes remained on the market were similar to Tanyard Creek Park; however, the median sale price was extremely low at $25,000. Days on market reduced by about 50 percent in 2016, but the median price remained low, at $70,000. This year, days on market has continuously decreased, a hint for sellers that there has been a rise in the area’s desirability.
Other areas in the West have been doing well, too. The median sale price within a two-mile radius of the Southwest Connector Spur Trail was $210,000 in 2016, a 133.3 percent increase when compared to 2012’s average. Between 2016 and 2017, days on market were cut in half from 39 to 15 days. Perkerson Park and Westside Trail saw about the same amount of growth and low prices as Gordon White Park, mentioned above.
From 2012 through 2015, the median sale price within a two-mile radius of Boulevard Crossing Park was below the overall median price in Atlanta. In 2016, prices rose above the city’s median by 2.7 percent to $257,500. Similar trends were seen in D.H. Stanton Park — the first cost-neutral park, generating enough solar energy to power 10 homes — where the median price has steadily risen into the mid-200,000s.
Home values along the Eastside Trail, within a two-mile radius of 10th Street and Monroe Drive, all exceeded Atlanta’s overall median price. In 2016, the median sale price was $285,000 and homes remained on the market for an average of 40 days. In the Historic Fourth Ward, home prices have continued to soar since 2012, to an average median sale price exceeding $270,000.