Buyer demand is furious right now, in a limited supply market. Buyers who are investors, buyers who are moving into larger houses, buyers who are downsizing, buyers who are buying vacation homes…
Metro Atlanta buyers are very motivated. Here are some leading indicators:
- Fleeing rentals, trading up, seeking yards, pools and solitude.
- Seeking quality schools, a sense of better community, resort-like properties and pools
- The migration from urban areas to suburban areas, and vice versa:
- Beltline neighborhoods inside Intown Atlanta are smoking hot
- The venerable, award-winning school districts of East Cobb, Buford, North Fulton, Forsyth and Cherokee are seeing high-demand
- “at the perimeter” areas like Dunwoody, Tucker and Smyrna are very convenient and loaded with value
- 50ish% of the properties that are “done” under $1.5 million are seeing multiple offers.
- The $300s and up activity in the southside neighborhoods like Summerhill, Pittsburgh, West End and Adair Park reveals a radically different real estate market than when these neighborhoods were suffering just 10-20 years ago
- In Chastain Park, Druid Hills, Ansley Park, Inman Park and many other neighborhoods with luxury homes, prices are up 25-35% in 8 years
- The Entertainment and production industries are ready to get back to work. This could unleash another wave of buyers.
- Births, engagements, divorce, death and downsizing are all happening – they always are
“I need a home.” “I need to buy a home to improve the quality of my life.” “This is where I want to live!” These are the exclamations of the lifestyle buyer.
“I want a good deal.” “I want a great ROI.” “I want my value to rise.” These are the exclamations of the investor buyer.
The beauty of this moment in the market in metro Atlanta is that a savvy buyer can have both a great real estate investment and a great lifestyle choice.