Go South, young homebuyer!
Take a look at the latest report from Coldwell Banker Real Estate, look at the affordability of homes in different parts of metro Atlanta, and you may not need that advice from the late Horace Greeley, (and yeah, actually he said “Go West,” but you get the idea).
After researching the average listings for tens of thousands of four-bedroom homes across the state between December and June, Coldwell calculated that Riverdale is the most affordable market in the state of Georgia and Dunwoody the most expensive.
Riverdale’s average listing price was $79,223, while Dunwoody’s average listing price was slightly more than five times higher: $407,116.
The experts have been complaining for several years that one of the crucial missing components in the metro market is the young — or at least, first-time — homebuyer. The ones looking for lower-end prices, bargains, areas that are up-and-coming.
And it looks, says Coldwell, as if the first-time homebuyer ought not be looking in Dunwoody. Or, for that matter, the other more costly markets. Following Dunwoody in average priceiness were Alpharetta, Peachtree City and Cumming.
Not to say you can’t find bargains or fixer-uppers, but based on averages, those are the top.
The least expensive markets – from the bottom – were Riverdale, Lithonia, Fitzgerald, Augusta and Griffin.
A full set of listings from Coldwell is on the company web site.