Category: Markets

We are still in the first quarter of 2019 and the housing market and experts are still trying to figure out what will happen with the real estate market this year.  Buyers and sellers are looking at lower prices in some areas whereas others are experiencing a shortage of houses on the market.  How does all of that affect you when the time comes to sell your property?  If you need to sell quickly because of divorce, finances, a new job or any other reason there are some trends that you should be paying attention to as they will affect your selling price.

Slow Start

Markets tend to be slow this time of year, but as the temperatures climb so do housing prices.  Spring is generally one of the better times of year to list your house, renters and first time buyers tend to start looking in the spring so they can move into a new home in the summer months.  Families don’t want to move during the school year but they will start looking around April.

If you can wait to list until then it can help you get a better price.  Wages have also gone up and interest rates have remained fairly low which helps the housing market.  There are state and federal tax programs that help first time buyers get into a new home.  All of that is good news for sellers looking for a quick sales in today’s market.

Fewer Houses on the Market

This is a great time to sell your home as there are fewer homes on the market up for sale.  The economy is still doing relatively well in Georgia and that gives buyers the confidence they need to finally buy their first home.  So if you are planning on selling you stand a much better chance of getting a good price, even if it is not the ideal time of year or you need to move quickly.

Millennials are Finally Buying

Since the last economic crash there has been a bigger trend towards renting rather than buying.  Millennials were hesitant to get into home ownership but that trend is finally starting to change.  Renters didn’t want to repeat the mistakes of the past and did not want to get into mortgages that they couldn’t afford.  Now they are looking for a home to call their own, that can help you sell your home quickly.

Markets

The city of Atlanta has had a consistently strong housing market for years now, and that doesn’t seem to change. If you are in search of a perfect place for investing in a new home, then you must consider one of the following cities in Georgia.

Smyrna

Smyrna city is located to the North West of Atlanta, in Cobb County, Georgia. It falls within the inner ring of the Atlanta metropolis. For some time, Smyrna has been at the top of the real estate business. It is precisely known to be attractive to young buyers. Smyrna’s appeal to the young generation is mostly considered to emerge from the development of SunTrust Park.

Between 2015 and 2016 alone, the median home sale price jumped from $292,000 to $320,375. By 2015, a home remained in the market for only up to 45 days, a sharp improvement from 50 days the previous year. This puts Smyrna at the very top of the real estate business.

Chamblee

Chamblee city sits in the Northern DeKalb County, which is to the North East of Atlanta. Chamblee is the second most lucrative city for real estate in Georgia. The city is known for its vibrancy and international flair. The rebuilding of the General Motors Assembly Plant in 2017 significantly attracted more business into the city. This led to a rapid influx of population and increased average income, hence increasing the demand and prices in real estate. If your real estate venture targets the business class, then Chamblee is the right place for you.

Cumming

Located in Forsyth County in the metropolitan areas of Atlanta, Cumming’s Water Park and Fairgrounds are attractive to young families. It is also known to be the home for some of Georgia’s greatest schools, which has also contributed significantly to the high influx of high-income families. The City’s median home sale price, which stood at $284,177 in 2015, shot up 8% to hit $307,725 in 2016.

Alpharetta

This city is located in Fulton County, within North Central Georgia. It hosts world-class dining, top-class concerts, and very extensive parks and outdoor recreation. The median home sale price in Alpharetta rose to $384,475 in 2016 from $366,250 the previous year.

Atlanta

Within the city of Atlanta itself, there are three leading housing markets. They are Grant Park, Reynoldstown and West End. These areas are known for their beautiful neighborhoods, excellent school districts, and scenic community parks. They are also home to vibrant shopping and entertainment districts.
All these cities have continued to show high growth prospects, and the housing sector is expected to exhibit higher growth in the coming years.

Markets