Over the next few years, the real estate market in Atlanta is expected to experience some changes. Whether you are a home buyer or a seller, here are 10 things you need to know in 2023 and looking ahead to 2024.
1. The Housing Market Will Remain Competitive
Despite some fluctuations in the economy, the real estate market in Atlanta is expected to remain competitive in 2023 and in 2024. This means that home buyers will need to act fast when they find a property they like, as it may not stay on the market for long. You don’t want to miss out on a property that is perfect for you.
2. Interest Rates May Rise
Interest rates have been historically low in recent years, but they have been ticking up as of late. This means that home buyers may need to adjust their budgets and expectations accordingly when looking at homes for sale in Atlanta.
3. Home Prices May Continue to Rise
Home prices in Atlanta have been steadily increasing in recent years, and this trend may continue into the future. Home buyers may need to be prepared to pay more for a home than they would have a few years ago. Unfortunately, buyers today may be getting less house for the money than they would have a few years ago.
4. Location Will Be Key
As the Atlanta market remains competitive, location will become an even more important factor for home buyers. Properties in desirable neighborhoods or with convenient access to amenities will likely attract more attention than standard homes without any of the above.
5. Technology Will Play a Bigger Role in Atlanta Home Sales
Technology has already started to transform the real estate industry, and this trend is expected to continue through 2023. Home buyers and sellers may need to be prepared to use digital tools to search for homes, view properties, and complete transactions.
6. Sustainability Will Be a Priority for Home Buyers
As more people become aware of the impact of climate change, sustainability will become an even bigger priority for home buyers and sellers. Properties with energy-efficient features or eco-friendly designs may be more in demand.
7. Home Inspections Will Be More Thorough
As home buyers become more cautious, home inspections are likely to become more thorough as we move forward. Buyers may want to hire multiple inspectors to check for any potential issues before closing on a property.
8. Virtual Tours Will Be More Common for Sellers
Virtual tours have become increasingly popular in recent years, and this trend is likely to continue in 2023 and 2024. Home buyers may be able to view properties from the comfort of their own homes before deciding whether to schedule an in-person showing.
9. Negotiations Will Be More Complex
As the market remains competitive, negotiations between buyers and sellers may become more complex. Both parties may need to be willing to compromise and work together to reach an agreement and get the deal done.
10. Working with a Atlanta Real Estate Agent Will Be Essential
With so many factors to consider, working with a real estate agent will be essential for both home buyers and sellers in 2023 and in 2024. An experienced agent can help navigate the market and ensure a smooth transaction.
The real estate market in Atlanta is expected to remain competitive. Home buyers and sellers will need to be prepared for a range of changes and challenges, from rising interest rates to more thorough home inspections. By staying informed and working with a trusted real estate agent, however, it is still possible to achieve your goals in the market. Reach out to Big Ron Property Solutions today to learn more! (404) 977-5054