Take me out to the ballgame…
As the Braves progress through the playoffs, why not take a minute to inspect progress in the direct vicinity of SunTrust Park.
Ground broke on SunTrust Park 9/14/14, so we can say that was when real estate was initially impacted, but let’s look at just the last 6 months.
Condos and townhomes will be the subject of this analysis simply because single family homes make up a very small percentage of sales close to SunTrust Park.
The past 6 months, condos and townhomes within a 2 mile vicinity of the stadium sold for 284k on average. During that same timeframe last year they sold for 268k. That’s an increase of 5.7%, during the same period, Atlanta as a whole rose 4.3%. It’s also worth noting that average time on market fell from 49 days last year to 46 days this year. This number is slightly higher than Atlanta as a whole, which indicates even though value is increasing, demand has been somewhat flat.
If this local market can stay as hot as Acuña’s bat, the future looks very bright.