3 THINGS TO KNOW... Atlanta & Tech with Gregg Metcalf

JMP Atlanta Market Eavesdrop
Atlanta & Tech 3 things to know
... with Gregg Metcalf

1) What's the residential market doing in Atlanta?
2) What about technology companies moving to Atlanta?
3) How is technology moving to Atlanta affecting our market, our values, and the overall future of Atlanta

With final thoughts:
Favorite Hollywood Couple?

with Gregg Metcalf, office tenant rep broker with JLL
President-Elect of the Atlanta Commercial Board of Realtors
Best Overall Deal of the Year Award 2019 – Mercedes Benz USA
Board of Trustees for The Leukemia & Lymphoma Society Georgia Chapter

1) what is our market doing:
last year vs this year, monthly stats
# sales 4,421 | up 1%
median sales price $309,000 | up 18%
average sales price $379,000 up 18%
Supply 1.2 months, down 50% (down from 2.5 months this time last year)
New listings 6,79 | down 19.4% to this time last year
active listings | 8,122 | down 45.5% from this time last year*
*fewer listings now than any month the entire year last year, including COVID

 2) What about technology in Atlanta
While quarantining and COVID were in their prime and everyone was pulling out of office deals or pausing, the technology companies were quietly leasing up office space around Atlanta.
Facebook leased 100,000sf in Atlantic Station
Microsoft leased over 500,000sf in Atlanta statin
Google leased  over 400,000sf in midtown


WHY ATLANTA?
- To fulfill their new diversity initiatives
Atlanta has more diversity and more HBCU (Historically Black Colleges and Universities) than other cities) ...
- Highly educated workforce and workforce source and low cost of living and doing Business
- Hartsfield-Jackson Atlanta International Airport,  the busiest airport in the US by passenger traffic. About 104 million passengers travel through the busiest US airport, about 20 million more than for the second busiest airport in the US.
Microsoft purchased 60 acres in Quarry Park,
specifics not released
it will be mixed-use with
research center
affordable housing
a component of it part of/ funded by the Bill & Linda Gates Foundation
Air BnB just announced their move to Atlanta

3) how is that affecting the Atlanta market and values
more diversity
more employment
across multiple industries and income levels

Favorite Hollywood Couple?...  well...

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