Real estate in Atlanta is in a strong position. The combination of the economy, the community, and the gorgeous Georgia landscape continue to attract people to this thriving city. Atlanta is experiencing a strong seller’s market, but homebuyers are not without hope. There are still homes for sale in Druid Hills and other opportunities to find the home you need.
Here’s what you need to know about the real estate market in Atlanta.
However, if you want to buy a home, you need to do so regardless of the interest rates, but you should consider your strategy. First-time homebuyers are paying 100% interest for their rental. They may need to save more cash to put down on a Morningside home for sale, but it will still be a better investment than renting.
Midtown Atlanta will always attract people to its vibrant arts community and, of course, to Piedmont Park. You want to keep your eye on the micro-climate of real estate — one area can be in a hot seller’s market, such as homes for sale in Druid Hills, while the other cools down. You can make this work to your advantage if you work with an experienced realtor who understands location matters and can showcase the variety of neighborhoods in Atlanta.
CNBC reported in September 2021 that America is underbuilt by more than five million homes. While many projects are underway to remedy this, the need will not change within the next few years. Homebuyers must compete for the homes they want, so Atlanta is in a hot seller’s market — Morningside homes for sale are going fast.
For homebuyers, competitive bidding can be intimidating. They worry about paying more than what the home is worth, fear it won’t appraise at the level they need it to, and worry they’ll be unable to compete and will be without a home to buy. Provided all their finances are in order, homebuyers need to have two things on their side: patience and an experienced realtor. Don’t give up—your home is out there; it just hasn’t been listed yet.
Investment real estate
The demand for short-term rentals is also increasing because travelers are looking for non-hotel opportunities. Airbnb shows the average short-term rental in Atlanta has a 53% occupancy rate and earns $168 per day. Talk with an experienced realtor to discover Morningside homes for sale that will make good rentals.
If the rising prices make you hesitate to enter the market, keep in mind that home values rarely drop. It’s why real estate is one of the safest and best investments. Over time, they always increase in value. Waiting is just allowing time for the prices to keep going up.
A good agent
If you have questions about Atlanta’s real estate market, Molly Carter Gaines is happy to help. Molly has specialized knowledge in construction and renovation and has a knack for seeing the potential in a property. Contact Molly today to sell your house and find your next dream property in Atlanta!