Are you wondering what neighborhood will be the next big deal in 2018? I think one Atlanta neighborhood to invest in 2018 could be Summerhill. That’s right – Summerhill. It’s a bit rusty on the edges now but it is about to get an overhaul and we’ve already seen prices starting to creep upwards. Here are my top 3 reasons why Summerhill looks like a good option of where to invest in Atlanta in 2018:
Location:
If you’re not familiar with where Summerhill is located, it’s actually quite an ideal Intown location – right off of I-20 & I-75/85 and minutes to Downtown. Plus, it’s home to the Georgia State Stadium (a.k.a. former Brave’s stadium) – more on this in a second. Summerhill also neighbors the historic & blossoming Grant Park neighborhood – which is seeing its own excitement of new projects (the future Beltline, the Beacon, and Larkin on Memorial to name a few). Residents won’t be too far away from parts of the Southeast Beltline, making the walkability score of this location even stronger.
Planned Commercial & Residential Projects:
There’s been lots of talk and planning of what is going to happen to the area surrounding the Georgia State Stadium. Retail shops coming back to life on Georgia Ave, student housing where the old Turner Field parking lots are located, and the transformation of the former Braves stadium to Georgia State University’s own football stadium. If these plans truly come to fruition, it could give Summerhill the boost it needs to turn this neighborhood around. Of course, there is going to be some skeptics when we saw how the neighborhood fell apart after the Olympics, a World Series, and a MLB Team anchor. Perhaps these fleeting highlights never gave the neighborhood a sustainable life. And perhaps turning Summerhill into a more college neighborhood focus could be a more long-lasting staple the community needs.
Home Style and Prices:
The homes found in Summerhill range from early 1900 bungalows & craftsman style homes to more recent builds in the early 2000’s that are built to reflect similar early 1900 styles. Now in 2017/2018 we are seeing new craftsman construction in the area popping up as buyers are getting squeezed out of other more expensive neighborhoods and speculators are hoping to see a surge in Summerhill’s redevelopment. The average sale price in Summerhill for 2016 was ~$244K compared to 2017 at ~$269K. This difference isn’t huge but if you look at the highest home sale in these 2 years (2016 was $409K while in 2017 it spiked to $509K), that is over a 24% increase! So what does this all mean? To me, it could signal that newer construction or renovated properties in this area are on the up and up.
