Atlanta Real Estate Update, Hartsfield Jackson Atlanta Airport; Suwanee Ranked 6th Best US Suburb
-This is a transcript from Go Gaddis Radio to listen to the episode click here-> https://on.soundcloud.com/jMwTV
Welcome back to Go Gaddis Real Estate Radio right here on AM nine 20. The Answer. I am Cleve Gaddis, and I appreciate you joining us for this week's show in this segment. We've got the Metro Atlanta Residential real Estate update for the last seven days. Yep. You heard that right? We give you an update every single seven days, especially while we're in kind of a crazy market and are something you should know about Metro Atlanta segment.
We're gonna talk about Hartsfield Jackson. Atlanta International Airport. I know that I don't speak for many who go through that airport because it is a very busy airport, and if you go through once or time, once or twice a year, it can be overwhelming and confusing. I travel in and out of there quite frequently, usually two or three or four times a month.
And, uh, I actually quite enjoy the airport. I find it well laid out and we can move through it quickly. So we're gonna talk about Hartsfield Jackson, Atlanta International Airport, and then Suwanee, Georgia. Northeast Atlanta was ranked sixth in the us, uh, as the, as as the sixth best US City suburb. My name is Cleve Gaddis.
You're listening to Go Gaddis. Real estate radio where we help listeners go from real estate novices to experts. So home selling and buying can be, can be done with total confidence and really without all the worry that is so typical with life's biggest investments. Long story short, we don't want you as a listener of this show to learn anything at closing.
Or after closing that you should have learned before. It is our mission and we are serious about it. And don't forget, we want to connect. If you listen every week and you think, man, I'd love for them to answer a question on the radio, or I'd love for someone to get me some information on this or that, or the other real estate related subject, that's easy.
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Again, go ga us radio.com. Let's take a look at the Metro Atlanta, Georgia market. These are statistics from the first multiple listing service, and this is just over the last seven days. We had 1,774. Homes listed in the last seven days, 1,774. If you're wondering, well, Cleve, how does, how would this compare to last year?
I would say this time last year, we were at 23, 24, 2500 new listings a week. So inventory is flowing into the market more slowly this year. Than last year. And actually on last week's show, we actually did a year to date, 2023 versus 2022 review, and I believe that sales are down 34%. Unit sales were down 34% for the year.
1,479 homes went under contract for the week. So there about 300 more homes listed than went under contract. That's good. It causes inventory to grow. And when I say that's good, home sellers might listen and think well. That it's not good if you're a home seller. And, and that's true. The more inventory you get, uh, the less seller oriented the market is.
But there's still not enough inventory for the market to be a balanced market or a buyer's market. It is still a seller's market. We've gone from probably what was a low of two weeks worth of inventory during the pandemic, and we probably have two months or two months and one week worth of inventory.
But anything under four months is still a seller's market. We had 1,983 closings for the week. That's great. I love to see those numbers get up. Around 2000 and last statistic for the week, we had 1016 homes with a price decrease for the week. So we had 1016 homeowners trying to sell their home who said, Hey, I might be more interested in selling my home this week than I thought I was.
And so for those. Buyers who are getting frustrated in the market today because they are making offers on homes and they're competing with multiple offers and, and in some cases they're not winning against those multiple offers, then ask your agent, uh, whoever you're working with, and if you don't have anybody who can do this for you, we'd love for you to do it with Modern Traditions Realty Group.
You can reach firstname.lastname@example.org, click on contact us, or you can just call us at (770) 497-0000 and we can run a list for you of all of those homes that are part of that 1,016 that had a price decrease that might be in that specific geographic area. That you're interested in. It might mean you have to buy a home that is not in exactly the right condition as you would want today, but there are many, many options for addressing the condition of the home, making some improvements that you can even work into the cost of your loan, into the loan amount and your loan payment every single month.
In fact, if you want some good information on that, Those are improvement loans or renovation loans, depending upon the type of loan that you're getting, and I'd love for you to call me and have a conversation that number 7 7 0 4 9 7 0 0 0 0 in our, here's something you should know about Metro Atlanta.
Segment. Hartsfield Jackson Atlanta International Airport. I talked with the chairman of the Atlanta Regional Commission. In fact, it was probably 10 years ago. He was one of the first guests. That I had on my radio show when the show was back on, um, on AM 1160, and that's been a long time ago. I wish I could remember his name.
Very, very nice gentleman. Was a very smart gentleman and um, he said that there were basically four things that put Atlanta on the map. And the first one was Martin Luther King, Jr. Or I shouldn't say the first one. I don't remember what order he gave them in. The second one was the Olympics. The third one was Hartsfield Jackson International Airport.
And the fourth one, um, I believe was our regional planning, um, committee, which made sense cuz that's what he was chair of. And he gave an example, he said that 50 years ago now, that would be 60 years ago, that Atlanta and Birmingham. Atlanta, Georgia and Birmingham, Alabama had the same exact population, and I don't know what Birmingham's population is today, but you know, Atlanta, we are over 6 million.
Let me see if I can find what the Birmingham population is. Uh, it says the City of Birmingham population is 197,000, let's just say in a little surrounding, let's call it a metro area. You know, maybe there's 300,000, um, in, in that area. Um, but you know, Atlanta, 6 million versus two or 300,000 and they were the exact same size 60 years ago.
So it's really quite. Fascinating. Atlanta Hartsfield International. Hartsfield Jackson International Airport. We only added the Jackson name in the last 10 years. I don't remember exactly when it was. Uh, for many, many years it was just called Hartsfield International Airport, named after, I believe Hartsfield was one of our mayors and Maynard Jackson.
Was also one of our, uh, mayors as well. But it is the busiest airport in the world in terms of passenger traffic. And in 2022, it was still the busiest airport in the world, the number one busiest airport in the world. In 2019, the airport handled 110 million passengers. I'd love to take that 110 million and divide it by 365.
I don't have a calculator to do that on, but there is a ton of people. In that airport. And if you go to the airport on a weekend and you're not an experienced traveler, it can be an overwhelming process. Uh, the airport has two terminals. It actually has a domestic terminal, which has two terminals, a north and a south terminal, but they're really right together in the same building.
And then it has the Maynard h Jackson Jr. International Terminal Terminal, which is at the opposite end of the airport. And that international terminal is, Fascinating. It also has concourse t if you're traveling on concourse T uh, it is connected to the, connected to the, to the concourse, to the main terminal building.
Um, so all the gates are really close. A lot of times when I fly to Dallas, I'll go out of T3 or T seven or something like that. And, and part of that used to be the international terminal. So concourse T was the international terminal. Now it's concourse. F there are lots of art collections as you as up in the terminal and, uh, as you are in the, uh, people movers or you're in the tunnels underground that you can walk.
In fact, if you walk from one end from the terminal all the way to, um, concourse F, it's about a mile and a half. In fact, when I'm trying to get extra exercise, I'll walk that if I get to the airport a little bit early. But they have lots of art pieces on display. In the tunnels going between A and B and B and C, and they are really fascinating.
If you've never been down there to see them, it would be worth the trip. The airport is committed to sustainability and has, uh, implemented numerous green initiatives, recycling programs, energy efficient lighting. They're changing all the lighting in the north and south terminal. Uh, currently in Delta Airlines is the largest airline in Atlanta.
It is the MacDaddy here. Um, and Atlanta Delta has a thousand flights every single day in and out of Atlanta. Atlanta Airport was featured in several movies including Baby Driver, flight and Kill Bill Volume Two. So Atlanta Airport is famous, been featured all over the place. Are you looking to move to a big or a small city where we might just have one of the best nearby?
A listener comment. We live in Suwanee and Lovett bought in 2006 when it was. In the top 10 small cities to live in Money Magazine. Is that still the case? And the answer is yes. There was a recent article published by Atlanta Agent Magazine, which says, according to a new survey from Storage Cafe, That at Suwanee ranked number six, suburb for city living.
Uh, it is an excellent place for raising a family, mainly thanks to its, you know, well, well performing school system. It offers diverse living options, high quality mixed use developments. Uh, it has. 900, excuse me. Uh, it has a 25 acre town center. Uh, it has 42 businesses, a thousand residents, a median household income of 99,000, the top 10 suburbs where Edina, Minnesota Falls Church, Virginia, Palo Alto, California.
Franklin, Tennessee, Venice, Florida Suwanee, Georgia is number six. Los Gatos, California. Burling Game, California Lone Tree, Colorado, and Burlington, Massachusetts. If you're thinking of selling your home anytime in the next six months, we believe we can sell it for $28,000 more than your neighbor. Go to go gadi radio.com to find out more.
Go gadi radio.com. Click on sell for $28,000 more. This segment of the show is brought to you by John Birchfield and Capital City Home Loan. John makes it his mission to guide you step by step through the entire loan process so you can make the best decisions along the way. 6 7 8 2 2 6 7 8 8 7 is the number.
6 7 8 2 2 6 7 8 8 7. We're gonna take. Quick break. When we come back, we're talking about subjects that we haven't talked about in years, and that's distress sales, short sales, and foreclosures. And this is probably a segment that you're gonna want to stay tuned for. Stick with us. We'll be back.