Spring is right around the corner, and veteran agents like myself, start preparing far in advance in anticipation of the influx of buyers and sellers. This advanced preparation is essential for me and allows me to expose my clients to the best opportunities and options in the market.
This spring is no different and could be the best opportunity this year to optimize value on the buy and sell side of new residential real estate transactions.
If you are a buyer or seller, I want you to be prepared this spring to take advantage of some of the excellent opportunities in the Atlanta market.
Below I have outlined some of the opportunities I am preparing for.
Positive Market Movement
National news headlines regarding the real estate market can be misleading. There are specific markets that are more affected than others when it comes to the current economic environment.
Fortunately, Atlanta is not one of them. Atlanta is experiencing phenomenal growth, yet supply is abysmally low at 1.9 months. We simply don’t have the inventory to keep up with the growth. Any type of pressure will most likely push prices up quickly.
If you have been waiting to buy, I expect spring will provide better opportunities rather than later in the year. In the chart below, it appears that prices are already starting to tick back up in anticipation of the spring season. I recommend that you start your search sooner than later.
Get Ready for a Downtown Boom
With the Atlanta United Soccer season in full swing, I expect a renewed interest in downtown. As more people visit downtown as a soccer destination, they will start noting all the new developments and amenities downtown offers.
These new mix-used developments will be excellent living and investment opportunities for people who want to take advantage of the best urban living environment in the Southeast.
Of note will be Centennial yards, which I covered in last month’s post. But as a recap, Centennial yards is the $5 billion urban revitalization project near Mercedes-Benz stadium. It’s expected to feature 8 million square feet of commercial and residential space.
Here is a list from Atlanta magazine of all the downtown projects this year. Spring will be the time to start looking at opportunities if you are interested in Downtown living.
Rising Interest in Luxury Homes
Luxury consumers continue to place a premium on real estate in areas like Atlanta that have shown stability and long-term growth opportunities.
The Atlanta market has undoubtedly gotten the attention of affluent buyers looking for growth opportunities in real estate. Typically spring is when investment property buyers start looking for these opportunities, and sellers who know this have their homes prepared.
The best takeaway for buyers and sellers is to be prepared this spring. I believe that over the next several months, we will start seeing a renewed interest in buying as people come to terms with the new interest rate norms.
Those buyers and sellers who are prepared stand to benefit the most from any renewed interest in Atlanta real estate. I can’t express enough how low supply is and how this could potentially push prices to the upside with renewed interest.
If you want to be prepared to buy or sell this spring for optimal value, don’t hesitate to contact me, and I will help you develop the best strategy for your needs.