Atlanta’s housing market has a fan in one of TV’s most recognized real estate personalities.
Luxury real estate agent and reality television star Josh Altman said in an exclusive interview with Atlanta Business Chronicle that housing stock in Atlanta is undervalued compared to markets with more eminent reputations, like those featured on his show, “Million Dollar Listing Los Angeles”.
“It’s going to be hard to find untapped markets in a world that we live in now,” Altman said. “But we can zero in on places and really see what we think personally is undervalued, and I think Atlanta is one of those places.”
The typical home in the city is valued at just under $400,000, according to Zillow’s Home Value Index. The median sales price for Atlanta homes was $430,000 last month, per First Multiple Listing Service data.
Institutional buyers have long begun tapping into Atlanta’s unseen potential in real estate. Home prices in the city average lower than those in Western and Northeastern markets, making metro Atlanta a target for real estate investors large and small.
Investors acquired more than $1 billion of available housing stock in the metro area during the first three months of the year, according to a May report from national real estate company Redfin Corp. (Nasdaq: RDFN).
Atlanta’s attributes are also still luring buyers from pricier markets to the metro area, continuing a trend that started during the pandemic.
Jenni Bonura, president and CEO of Atlanta-based luxury real estate brokerage Harry Norman Realtors, said in a previous interview with Atlanta Business Chronicle that the metro area’s universities, strong job market and emerging tech and film industries attract transplants from all over the world.
“The lifestyle, the schools and everything that’s going on out there ⏤ I love that market,” Altman said. “I would invest heavily in real estate in that market, which I don’t do [in] many places.”
Full article: https://www.bizjournals.com/atlanta/news/2024/06/18/josh-altman-atlanta-housing-market.html
