JOHNS CREEK, Ga. — Suburban markets continue to draw interest from homebuyers seeking more houses for their buck.
A municipality north of Atlanta is one of the hottest markets in the country, according to 11Alive's news partner the Atlanta Business Chronicle.
Johns Creek was the seventh-most popular housing market in the United States during the first three months of this year, according to a May 24 report from national real estate brokerage Zillow (Nasdaq: ZG). Each of the top 10 markets were suburban.
Zillow considered its own page-view traffic, home-value growth and for-sale inventory for the report. It analyzed more than 1,000 cities across the U.S.
Atlanta Fine Homes Sotheby's International Managing Broker Bill Rawlings said "schools and lifestyle" in Johns Creek are catalysts for the city's hot market.
Though some suburban markets serve as cheaper alternatives to the big cities they orbit, Johns Creek is more expensive than Atlanta.
The median sale price from January through March in Johns Creek was $661,000, per data from First Multiple Listing Service. In Atlanta, the median price was $394,050. Johns Creek was 68% more expensive.
However, for buyers with the income and capital required to purchase at the higher end of the market, Johns Creek does offer more house for the price.
The city's median price per square foot over the first three months of this year was $214. It was $255 in Atlanta.
Johns Creek's popularity appears to be a catalyst for intense competition for homes on the market. Last month, the average home in Johns Creek sold for more than 7% above the list price.
Atlanta's northern suburbs, including Johns Creek, have been red hot amid the pandemic. The area includes most of metro Atlanta's most expensive ZIP codes.
Asked about Johns Creek's surging popularity, Rawlings said he wouldn't limit that description to that city.
"The general area [north of Atlanta], absolutely," Rawlings said.
Read the full report.
