ATLANTA - A new report by Knock shows homes located around the new SunTrust Park have gone up in value during three years of construction.
"People who are willing to put up with the aggravation of the building process are seeing it as a way to buy a really nice home for less money that will appreciate faster," said Sean Black, Co-Founder and CEO of Knock.
Atlanta-based Knock is a new online home-selling platform that analyzed home sales within a two mile radius of SunTrust Park.
Since the announcement of the new stadium in November 2013, Knock found that homes close to SunTrust Park sold for 8.5 percent more than homes outside the two-mile radius.
Knock's analysis also shows that homes within two miles that sold in January 2017 were on the market for 53 days. Those homes sold nine days faster than homes in the rest of Cobb County, which stayed on the market for 62 days.
"That difference is significant when you play it out with individual homes," Black added. "It means a lot in terms of the price you get and the cost of carrying the home in the meantime."
Black said there's no way to know for sure now how the new stadium for the Atlanta Braves will impact home sales in the long run, but he expects to see more appreciation as development continues.
"If interested homebuyers want to be in this neighborhood, they need to act quickly," Black said. "For homesellers, this is a great opportunity to market and price their houses effectively."
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