Atlanta, Georgia has been one of the hottest real estate markets for the past several years. Far from changing that, the pandemic has only made the Atlanta real estate market more competitive. Although prices are soaring, Atlanta is still a great place to buy a home. A booming population, active job market, and high quality of life could make Atlanta the right place for your clients. Here’s what you need to know if Georgia is on their mind.
Atlanta is one of the top 5 fastest-growing cities in the nation. In 2019 alone, nearly 285,000 people moved there, raising the population to over 6 million. In the next 30 years, the population is expected to jump to more than 8.6 million residents. Contributing to the population growth is Atlanta’s booming job market.
9 out of 10 fortune 500 companies have operations in Georgia. And, 18 of them are headquartered there. Some of the top job sectors include bioscience, fintech, and technology. Atlanta’s unemployment rate in December 2020 was below the national average (of 6.7%) at 5.4%. So, there are better than average job prospects, giving citizens opportunities with top companies like Delta Airlines, Emory University, and AT&T.
And it’s not just jobs that drive Atlanta’s growth. It is consistently ranked as one of the top cities to live, work, and retire in by top publications like U.S; News & World Reports and Forbes. Great schools and universities make Atlanta an ideal place to raise a family, And, a variety of nightlife, sports teams, arts, and more mean there’s something fun for everyone, of any age. Plus, with a low cost of living (50-60% below cities like New York City), it’s an affordable option for city dwellers—specially for first-time homebuyers who’d like to be within city limits.
Real Estate Trends
Speaking of home buying...much like the rest of the nation, Atlanta saw a tremendous price increase from last year. As one of the more affordable markets, Georgia has generally seen slow price growth. However, in 2020, home prices climbed 17.9% for an average sales price of $379,000. That trend won’t stop in 2021, with further price increases expected.
High prices make it a great time to sell in Atlanta. However, it can be tricky to time selling your current home and buying a new one. With RibbonCash Offers, you can put a seller preferred cash offer on a new home before you sell your current home. And, when you sell your home, you can get a secure cash offer that’s guaranteed to close after the inspection period.
Along with rising prices, Atlanta’s housing inventory is also shrinking. Inventory is down 19.4% from a year ago. While a balanced market usually has a 6 months supply of homes, Atlanta only has a 1.2 months supply. And due to low interest rates, there are more interested buyers than sellers, making competition fierce.
How to Buy and Sell in Atlanta
Atlanta’s red hot real estate market can be tricky to navigate for buyers, sellers, and agents. But we’re here to help. With RibbonCash Offers buyers can put in the strongest offer in real estate—all cash. And with our buy before you sell option, you don’t need to worry about selling your home before you move into someplace new that you love.
For agents, Ribbon offers a modern home buying and selling platform that wows clients. With Ribbon, you can offer your clients the advantages of cash offers and guaranteed closings after the inspection period. That way, you can create a great client experience that generates referrals. The best way to buy and sell in Atlanta is with Ribbon’s cash offers. See how Ribbon cash offers can help you today.