Market Conditions in Atlanta>Question Details

Br_kesel, Home Owner in Atlanta, GA

Evansdale Neighborhood Market

Asked by Br_kesel, Atlanta, GA Tue Jan 29, 2013

Given recent news about Dekalb county school system and its mismanagement, have we seen bottom yet for real estate values in our Doraville neighborhood? How much more drop could we see in next 2-5 years? Will prices stabilize if the school board is removed? Not removed? Is the Clayton market a good proxy?

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Is the Clayton market a good proxy? No. The good ESDs, MSDs and HSDs will remain remain stable, in Clayton and in Dekalb. I don’t know enough about Clayton schools to even know if a school like Vanderlyn or Fernbank is down there.

Clayton doesn’t have a Dunwoody or a Druid Hills.

Across Dekalb – the market is simply too broad to judge things.

So, in Evansdale, there were 22, 2011 sales total in FMLS – average sold price $223K.

In 2012 there were 37 sales total in FMLS – average sold price $226K.

I know that we are cleaning house in Dekalb – CEO Burrell Ellis is lawyering up, and he has officers now outside his house at our expense, ever since the raid that surprised his 80+ year old Mom earlier this month.

Certainly, since I’m in FMLS right now, I gotta look up Clayton’s numbers…wow.

1041 sold total in 2012…only 4 sold above $200K, and the highest SOLD was – get this – a 1993 5/5 in a swim / tennis community originally listed for $424K, and sold short after 121 DOM for $324K.

There were 2278 sales over $200K in Dekalb last year…

Ya get where I’m coming from yet?

Fret not…

I like your question so much that I turned my answer into a blog post - check the web reference.
0 votes Thank Flag Link Tue Jan 29, 2013
Thanks, Lee. I'm most concerned about the continuing decline 30-40%+ of avg Dekalb home values (drops up to 50% were seen in Clayton) over last 5 yrs relative to other counties with stable and growing values and excellent school system... (you know what I'm talking about :))
Flag Tue Jan 29, 2013
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