More than one-fifth of Atlanta home values falling

If you see the stories about an improving real estate market, yet the value of your home is down, you are not alone.

As real estate mavens will tell you: it’s all about location, some locations are doing better than others and some parts of metro Atlanta have not seen the brightening of real estate most visible in town and northern suburbs.

So despite continued, if modest, recovery of the overall housing market, more than 22 percent of metro Atlanta homes have lost value during the past year, according to a study.

“Atlanta is actually doing very well,” said Svenja Gudell, chief economist for Zillow, the Seattle-based research firm that carried out the analysis. “But we’re still seeing a number of homes losing value. The reality is there are still areas lagging behind in the recovery.”

 

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Overall, the median price in the region was up 5.7 percent, she said.

Zillow has a database of 110 million homes and tracks home sales around the country. The company uses computer modeling to assess how values change – not just for the homes sold, but for others around them, Gudell said.

Nationally, nearly 28 percent of homes lost value, while the media value edged up 3.3 percent during the year, according to Zillow.

In general, the markets with the fewest homes losing value were those that were really hot, like San Francisco, which has had double-digit growth in median values, Gudell said.

The level in Atlanta now is higher than normal, but not dramatically higher.

For the two decades before Atlanta’s housing bubble grew dangerously and burst, the area averaged 20.6 percent of properties with values dropping. After the bubble burst and the region plunged into a deep recession, there were months where more than 90 percent of homes were losing value.

The recent fall in that number is one more sign that things are getting better, Gudell said. “It’s a good sign if the number keeps dropping.”

 

Reader Comments 0

13 comments
DrSocrates
DrSocrates

Crime in Midtown and the areas around the Beltline will continue to drive prices down.  The APD is worthless.  They need to fire the whole department and start over. 

jezel
jezel

@DrSocrates The 3 times I have called the APD...they arrived within 2 minutes. They patrol our neighborhood constantly.  So I disagree.

TheDawgsofWar
TheDawgsofWar

@jezel 


Over what time span have you had to call the police 3 times? That in and out of itself doesn't speak well for an area.

TheDawgsofWar
TheDawgsofWar

@DrSocrates  The APD is a reflection of the politicians who control/over-see the police department.  And those politicians are a reflection of the majority of the populace. The APD is not that bad, especially given the politics of Atl.

HeyThere
HeyThere

y'all should include a map of where prices are rising and falling in the metro area.

Ron Black
Ron Black

You folks are racist freaking idiots. Some of the greatest appreciating home prices in GA are zip codes at or near i-20. So please, go back to your basements at your mom's house.

TheDawgsofWar
TheDawgsofWar

@Ron Black 


Not sure what "near I-20" means but I-20 is a well known demarcation line for property values in Atlanta.  Just ask anybody in real estate who is not vested in the area for a candid assessment. 


The Braves are moving from just south of I-20 to well north of I-20. 


Give some examples of the "great appreciating home prices at or near I-20"

TheDawgsofWar
TheDawgsofWar

It's very easy to identify the areas where homes are still losing value, and, will continue to lose value.


Everything below I-20 probably accounts for at least half of the homes still losing value.  Gwinnett and Cobb are mixed.  Areas of both counties are "no mans land" with dropping home values while other areas are nice with rising home values.


Overall, the A-T-L has seen it's better days.  Just cross the TN/GA state-line and home values are sky-rocketing all across TN.

anothercomment
anothercomment

My best friend is a black male for over 30 years. He is one of the first non Athelete UGA grads. He has lived on the Northside for the entire time I have known him. He has continued to go to the West or SW side barbershop. Today, his commentary while he was driving back out of these areas you thought you were speaking to a white tea parter. He told me in words he is allowed to use that I am not allowed to use, that their are just too many of these ______, walking around and hanging it. Not one or two _____, but a whole bunch of _______.

This was during a time of day that kids, teens should be in schools. Adults should be at work. I was kept on an open line ( on purpose) while he collected a loan he made to someone at the barbershop. It was clear he left the phone on in case something happened.

This is why the values are falling in areas of town. Who wants to live like this!!!

prarrd
prarrd

Black areas are the worst because it's so unsafe where they live since so many blacks are criminals.

fez
fez

@prarrd I would argue that the region around you is worse because it's occupied by idiots, like yourself.

TheDawgsofWar
TheDawgsofWar

@fez


yeah prarrd is a complete idiot.  One only has to look at Ferguson Mo, Baltimore, Detroit, Oakland CA, Southside of Chicago, Clayton County, South DeKalb etc. to completely debunk that ignorant statement.