The “Beltline Effect” comes to Ormewood Park with home prices in the single family home community of Farmhouses at Ormewood Park coming in at $1.2 million. Prices have been steadily rising in this area with the development of the Southside Beltline trail, still a few years from completion. The sale of these homes would mark a record for single-family home prices for Ormewood Park.
Far from being an outlier, this phenomenon has sprouted up wherever the Beltline is underway. A similar situation was in place when the townhomes at Studioplex Alley popped up in Old 4th Ward on Atlanta’s East Side. Developed prior to the completion of Beltline construction in the area, these properties were listed with a $1.3 million price tag, much to the surprise and chagrin of the neighborhood. However, they were quickly under contract and became the new norm, if not now on the low end, for similar developments moving forward.
Grove Park and Howell Station are other examples of how the Beltline development goes hand-in-hand with a staggering increase in home prices. In 2020, homes in these areas increased 55% due to their proximity to the anticipation of the Beltline expansion to Westside Park. (see chart below). These neighborhoods top our list for best areas for first time buyers with a focus on sales appreciation in this upcoming year and the Beltline is the underlying reason we attribute to the steady rise.
With no signs of slowing down, the Atlanta housing market continues to trend upwards while pricing out affordable housing along one of our city’s biggest amenities. For more neighborhood insights on the best places for first time buyers to focus on, please check out our extensive report online or check in with any of our knowledgeable realtors for assistance in finding housing in these hot areas or for help targeting new investment areas!