Amid the coronavirus pandemic, home sales in metro Atlanta have slowed. But despite that, prices have continued to rise.
Last year, homes in metro Atlanta sold for a median price of $280,000. And while there are still some pockets of more affordable finds, median sales prices throughout the metro area have been steadily increasing.
However, for those looking to make a purchase, a new report from the personal finance website WalletHub found that Atlanta is among the best places for first time homebuyers.
“Americans may be conflicted on whether it’s a good time to purchase a first home. While many people have been financially hurt by the COVID-19 pandemic, mortgage interest rates have also hit record lows,” according to WalletHub’s report.
In the report, WalletHub compared 300 cities of varying sizes across 26 metrics and found that Atlanta is the sixth best large city for first time buyers.
WalletHub compared cities on metrics related to affordability, the real estate market and quality of life. The metrics included things like average cost of homeowner’s insurance, cost per square foot, share of homes sold annually, share of listings with price cuts, driver friendliness and quality of school systems.
After crunching the numbers, Atlanta scored a total of 58.30 out of 100.
Among large cities, Atlanta trailed Tampa, Florida; Las Vegas; Lexington, Kentucky; Colorado Springs, Colorado; and Aurora, Colorado.
On the overall list of cities nationwide, Atlanta came in at No. 47.
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