End of Year Report: Metro New Construction Median Sale Price Per Square Foot in Atlanta, GA (2023)

End of Year Report: Metro New Construction Median Sale Price Per Square Foot in Atlanta, GA (2023)

Title: Analyzing Trends and Forecasting Future Prospects

Introduction:
As we conclude the analysis of the Metro New Construction Median Sale Price Per Square Foot in Atlanta, GA for the year 2023, we present a comprehensive report highlighting the trends, fluctuations, and prospects observed throughout the year. This report aims to provide insights to stakeholders and aid in informed decision-making for the upcoming year.

Analysis:

1. Monthly Data:

2. Annual and Quarterly Averages:

• Annual Average: $192.21 per square foot
• Quarterly Averages:
  • Q1: $188.97
  • Q2: $196.59
  • Q3: $191.75
  • Q4: $191.29

3. Trends and Relationships:

• Overall Trend: The median sale price per square foot showed fluctuations throughout the year but maintained a relatively stable overall trend.
• Highs and Lows: The highest median sale price per square foot was observed in May ($201.87), while the lowest was recorded in August ($184.83).
• Monthly Percentage Changes: The percentage changes for each month are calculated and presented in the following table:

Conclusion:
The year 2023 witnessed fluctuations in the median sale price per square foot for newly constructed houses in Atlanta, GA. However, despite these fluctuations, the overall trend remained relatively stable, with an annual average of $192.21 per square foot. Quarterly averages also demonstrate consistency, with slight variations between quarters.

Recommendations:

Based on the analysis of monthly changes, 2023 presented opportunities for both buyers and sellers. Buyers might have found favorable pricing in months where prices dipped, such as August and July, while sellers might have benefitted from the higher prices observed in May and February.

Future Outlook for 2024:

As we look ahead to 2024, the market is expected to continue its stability with moderate fluctuations. Factors such as economic conditions, interest rates, and housing supply will play crucial roles in shaping the market dynamics. It’s advisable for buyers and sellers to stay informed and consult with real estate experts for personalized advice tailored to their specific circumstances.

This concludes the End of Year Report for the Metro New Construction Median Sale Price Per Square Foot in Atlanta, GA.