Real estate offers far more financial opportunities than just property transactions—there’s a huge opportunity within…
Are you interested in investing in the Atlanta housing market but unsure about the current state of affairs? Despite the many challenges of the past year, the investor housing market remains surprisingly strong in Atlanta, GA. We know what you’re thinking—interest rates are high and inflation is up, so what does this mean for the season ahead? At Skystone Acquisitions, we understand concerns about high-interest rates and inflation. However, we believe that this season still offers plenty of opportunities to make profitable investments in the Atlanta market.
Here are some of the key indicators that point to lucrative opportunities and help you make informed decisions about real estate investment.
Low Inventory, High Demand
Atlanta’s housing market has seen a significant increase in demand over the past few years, making it one of the hottest markets in the country. However, with limited inventory, buyers are facing stiff competition for available properties.
According to the FMLS report, there were 3,840 residential sales in February 2023, which represents a 27.7% decrease compared to the same period last year. That might sound like a big drop, but other touchstones indicate the housing market is still going strong. Both the average and median sales prices have remained steady, meaning interest rates aren’t drastically affecting market values as previously thought. Furthermore, new listings saw a decrease of 22.8% from last year and a 5.0% decrease from January 2023. This is good news for sellers—as the lack of inventory and decline in new listings combined with high demand allows for higher sale prices and the potential for offers that are over asking.
When buying, be prepared to act fast and make competitive offers. Even though the market has been facing some challenges with low inventory levels and changes in mortgage interest rates, it’s actually an opportunity for investors looking to capitalize on the scarcity of housing in the area. By partnering with Skystone Acquisitions, investors can leverage our expertise and local knowledge to identify profitable properties and expedite the vetting process. Our team has access to a wide range of listings that offer potential, including single-family homes, and multi-family units, providing our clients with access to unique investments that meet their criteria.
Cost of Living
Despite the increase in housing prices following the COVID boom, Atlanta remains an attractive place to live with a growing job market and a rich cultural scene. According to estimates, the average cost of living for a single person in Atlanta in 2021 is $2,174 per month. For a family of four, it’s expected to be around $4,210. Atlanta has long been considered an affordable metro to live in, and it’s easy to see why with a median home price sitting at $351,000 and median rent at $1,900. While the cost of living in Atlanta rose by 107.5% in 2021, it is a relatively modest increase compared to many major metropolitan areas in the US.
Atlanta is quickly becoming a top destination for travel and investment. Not only has it been named to National Geographic Travel and Lonely Planet’s Best of Travel lists for 2022, but Atlanta’s hospitality portfolio is also experiencing an impressive $486 million in new developments over the next two years. This means that visitors will continue to enjoy an ever-evolving destination with new hotel properties, world-class venues, and renovated facilities.
If you’re considering investing in the Atlanta housing market, there are several exciting developments underway that will make the city an even more attractive option. For example, Newport RE US has invested more than $100 million in the purchase of 48 historic buildings and development sites in downtown Atlanta, with plans to revive them into retail, creative offices, loft apartments, and public spaces. Furthermore, there are new restaurants, offices, and public gathering spaces planned along the Beltline’s eastside trail. All of these exciting developments make investing in the Atlanta housing market a smart choice for making profitable investments in any financial climate.
Start Your Real Estate Investment Journey
When it comes to buying or selling real estate, it’s a big decision that can have a significant impact on your life. That’s why it’s crucial to work with knowledgeable real estate professionals who can guide you through the process.
Skystone Acquisitions is the one-stop shop for all your needs. We’re a team of savvy agents who specialize in finding profitable and consistent deals for our clients. With our extensive network, you can rest assured that we’ll deliver premium deals straight to you. Contact us today to find your perfect investment property!