Yesterday, while standing on the rooftop of Six Feet Under in Grant Park, I made the bodacious claim that we will see a median price increase for metropolitan Atlanta for residential real estate.
We are already seeing that in places like Decatur, and other high performing real estate submarkets in Buckhead, and in some of the suburbs.
Anecdotal evidence shows me that activity in the lower price ranges, particularly under $100,000, is strengthening while activity in the higher priced submarkets continues to show signs of stability.
The recovery is underway but it will be some time before we see prices firming across all segments of metropolitan Atlanta.
We will continue to see depressions in places like Lakewood, Vine City and even in some of the Atlanta neighborhoods that are going through school struggles.
Here’s my video with the claim – stay tuned in 2012!