The nickname "Hotlanta" has never been more true in the real estate world. According to Redfin, prices in the city are up about 12% year-over-year, and the number of days on the market is down close to 50%.
The Entire State of Georgia is Booming
Although Atlanta is at the epicenter of Georgia's real estate growth, the entire state is seeing an upswing in its economy, and people from around the U.S. are settling in the state. In fact, business growth and migration to Georgia has been steady, and nearly 11 million people now live in the state, making it the eighth-most populated in the U.S.
The state is firmly in the top 10 best places to invest in real estate. Two primary factors are driving that:
- The business community is expected to continue to grow steadily, and some trend-trackers believe that Georgia (specifically Atlanta) is poised to rival Silicon Valley as a tech hub.
- Despite price increases, the cost of living in the state remains moderate. The median home cost is about $390K. Rentals are strong in the market, comprising about 50% of total occupied housing, creating opportunities for multifamily properties.
How To Find the Best Opportunities in Georgia
Of course, Atlanta and its suburbs are the best areas for growth due to their proximity to the urban area, public transportation, and entertainment. Now that so many people work from home, though, other cities are also attractive to homeowners. Among the best areas for private homes are:
- Berkeley Lake
Renters are specifically drawn to the following areas, making them prime opportunities for investors and agents in the multifamily space:
- Sandy Springs
- John’s Creek
Digging Deep and Finding the Best Deals
Once you've identified the areas that are of interest for investment, flipping, and new home sales/rentals, take your Georgia research one step further. Use PropStream's analytical tools to pinpoint the best opportunities. For example:
- Use the heat map and estimated value feature to identify suburbs or areas that are up and coming. Then use the draw feature to zero in on properties, run comparables, and filter stack with 120+ filters to find your next off-market deal or listing.
- Look at the financial and situational information PropStream provides for off-market and distressed properties. With PropStream’s search features, you can identify homes in pre-foreclosure due to divorce filings, tax liens, or bankruptcy.
- If you have multiple lists, using PropStream’s List Stacking tool, called List Automator, can improve your lead conversion rate. List Automator will help identify properties with the highest chance to sell. You can then spend your time and effort on the best off-market opportunities. Further, using built-in skip tracing services gives you direct access to each owner’s contact information — saving you time and money.
- PropStream's rehab calculator, property comparables, and other data-driven tools help you to do a deep dive into neighborhood and property data before investing, and you can use them to sharpen your negotiation.
If you're an agent, you can use PropStream's tools to gather up-to-date information about off-market properties in your specific area of focus and get a leg up on your competition. Many of our agents comment that PropStream is the easiest way to identify off-market properties likely to sell.
So, whether you're focused on the hub of Georgia real estate (Atlanta) or one of the hot suburbs, you can be assured that your targets and process keep you one step ahead in this booming market.