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Atlanta home prices expected to jump 18% in the next year

by Liz Hughes

Georgia homebuyers should brace themselves amid expectations the residential real estate market could see double digit growth next year. 

As if they haven’t been through enough already…

Homebuyers in the Atlanta area should brace themselves — again — amid expectations that the residential real estate market could jump 18.1% next year — on top of a previous one-year increase of 15%, according to a new study by Porch.

A dwindling supply is being blamed for skyrocketing home prices in the area, where the median price clocks in at $286,047.

Currently, Atlanta is ranked No. 18 out of 51 large metro real estate markets expected to grow the most in the next year. And Atlanta is not the only Georgia city to feature in these new price predictions. Savannah ranks at No. 38 among midsized metros with a projected growth of 14.7% and Augusta ranks No. 50 with a projected growth of 12.5%. 

Among smaller metro areas, Gainesville ranks at No. 20 with 17.6% projected growth and Warner Robins ranks at No. 67 with a project growth of 10.1%, along with No. 76 ranked Albany with a projected growth of 9.2%

With a median home price of nearly $459,000, Austin, Texas, tops the list at No. 1. Home prices there are anticipated to rise by a staggering 37%.

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