One of our favorite things about Atlanta is that it is always changing. There is always a new restaurant to try, a new neighborhood to explore, a new neighbor to meet. Real estate in Atlanta is no different, with new construction and renovations happening constantly. Despite the changing nature of Atlanta as a city, we have identified four trends in Atlanta real estate that show no signs of stopping.
1- Multifamily developments thrive Intown: Homebuyers seeking a single family home might want to focus their search outside of the Perimeter. New construction Intown is, and will continue to be, primarily condo and townhome focused. Luckily, homebuyers looking for Intown single family homes can look to the huge inventory of renovation-ready homes, or look to Intown suburbs, such as Brookhaven or South of I-20, for new construction Intown.
2- Buyers love South of I-20: Buyers are flocking to neighborhoods like Kirkwood, Adair Park, Capitol View, Edgewood and West End for the affordable housing and vibrant communities. Redevelopment in the area has made South Atlanta an incredibly desirable area for buyers looking for high walkability and who are drawn to perks of the area, such as the Beltline. With Georgia State University’s redevelopment of Turner Field, the sky is truly the limit for the neighborhoods south of I-20.
3- Millenial homebuyers: Millenials were slow out of the gate to buy homes. High unemployment and student loan debt have prevented Gen Y from buying where their older counterparts were able. However, Atlanta is well known for being millennial-friendly. Realtor.com sites Atlanta as the number one location for millennial homebuyers thanks to the availability of jobs and affordability of the housing market in Atlanta.
4– Mixed use developments OTP: Live, work, play developments are hot, hot, hot! The developments that have now become a staple of Intown Atlanta life (hello, Ponce City Market, Atlantic Station, etc.) have officially made their way OTP, most notably with Alpharetta’s wildly popular The Avalon. Suburban residents have spoken and developers have taken note; there are plenty of mixed-used developments planned for 2016 outside of I-285.
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