Atlanta has seen a big jump in new listings in the past few months.
According to data compiled by TheStreet, apartment prices jumped by $5,400 last month, bringing the total to $29,100 for the month.
That’s a significant jump from $23,000 in the first month of this year, according to Zillow.
But there’s more good news: The market is still far from overheating.
New listings for midtown atlatlanta apartment are currently averaging $1,800 a month, according a source at Zillower.
While the market has been on fire for months, we haven’t seen any signs of an end in sight.
“Atlanta is still a lot of work to do.
But we’re at a point where the economy has picked up again,” said Scott Johnson, the CEO of Zillows Atlanta division.
“There are more apartments available than ever and people are buying them.”
New apartments in Atlanta, and the city as a whole, are in a great spot.
According of Zellow, Atlanta’s apartment market is “at a peak,” and that’s thanks to two factors: a stronger economy, and a growing number of new apartments.
That means Atlanta apartments are cheaper than they’ve been in a long time, and apartments are selling faster than they were in the 1990s.
There are now 2,878 new apartments available in Atlanta right now, according of Ziller.
The growth has come largely due to new developments in the area, with more than 1,200 new apartment buildings opening since 2014, according the Atlanta Business Chronicle.
While the number of apartments being built in Atlanta is going up, so too are the apartments that are being sold, and some of those are quite pricey.
A ZillOW source said that in the city’s most expensive neighborhood, Brookhaven, prices are up $2,000 a month.
The average apartment in Atlanta now costs $3,600, but Ziller says that the average asking price is still about $1.2 million.
That might seem like a lot, but for apartments like these, you might want to consider renting a condo instead.
There’s no denying that Atlanta is hot right now.
And the Atlanta housing market is even hotter than it was just a few months ago.
This is the hottest real estate market in the U.S. for a second consecutive year, and it’s even hotter right now than it is in 2016.
But that doesn’t mean that everyone is getting out of the market.
“We’re still in the early stages of the housing recovery, but we’re seeing a lot more inventory,” said Johnson.
“You might want a new condo if you have the space.
You might want an apartment if you’re in a better spot than you were a year ago.”