Atlanta, Gainesville, Savannah, Columbus & Augusta are the most favoured 5 cities & Georgia real estate’s red-hot sellers markets, Tells Hirav Shah.
Investment in Georgia Real Estate : 5 Cities can give high returns
Over the years Georgia has become a real estate friendly state.
Renowned Real Estate Business Astrologer and Strategist, Hirav Shah tells us how…
There are 17 Fortune 500 companies and 26 Fortune 1000 companies with headquarters in Georgia, including Home Depot, UPS, Coca-Cola, TSYS, Delta Air Lines, Aflac, Southern Company, Anthem Inc., and SunTrust Banks.
Georgia boasts of one of the world’s busiest airports, as measured both by passenger traffic and by aircraft traffic. Also, the Port of Savannah is the fourth largest seaport and fastest-growing container seaport in North America, importing and exporting a total of 2.3 million TEUs per year.
For the five years, Georgia has been ranked the top state (number 1) in the nation to do business, and has been recognized as number 1 for business and labor climate in the nation, number 1 in business climate in the nation, number 1 in the nation in workforce training and as having a “Best in Class” state economic development agency.
No wonder, Georgia has been the site of huge growth in real estate.
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Facts of Georgia Real Estate
1.Median home value in Georgia is $221,471.
2.Value of a typical home in Georgia has increased by 8.3% over the last 12 months.
3.Over the past five years median home values in Georgia have grown by over 40%.
4.Average sales price of a home in Georgia increased by 14% to $316,979, based on the most recent study.
5.Days on market is 41 days, a decrease of 31% compared to the same time last year.
6.Inventory levels shrunk by 46% year-over-year.
7.Months supply of inventory is down 50% to 1.6 months, a strong indication that Georgia is a red-hot sellers market.
Investment in Georgia Real Estate : 5 Cities can give high returns
1.Atlanta Real Estate
When looking at Atlanta through a real estate lens, the numbers come up big. It’s a city with an incredible amount of upside and an ideal real estate market for investors looking for a winning combination of cash flow and appreciation.
The Atlanta real estate market is red-hot, with median sales prices up by nearly 16% year-over-year. Job growth, a growing population, and housing affordability makes Atlanta an attractive market for investing in rental property in 2021, especially when 50% of the households in the metro area rent rather than own.
When it comes to thriving metropolitan areas with relatively reasonable home prices, Atlanta is a serious contender. Boasting a strong economy, tree-lined neighborhoods, vibrant culture and urban walkability, Georgia’s state capital is a place where newcomers put down stakes and locals never leave.
2.Augusta Real Estate
Out-of-state investors are gravitating toward a daisy chain of often overlooked and out-of-the-way markets”in smaller cities in the Southeast, such as Augusta, Georgia. According to a recent study, real estate investors in rural markets will very well benefit from a post-pandemic boom in 2021.
3.Gainesville Real Estate
The Gainesville real estate market is a strong seller’s market for home and condo sales. Gainesville home buyer demand continues to outstrip housing supply in nearly every price point, often leading to multiple offer situations as home buyers compete for the same houses.
Also, the economy is pretty stable in the “Poultry Capital of the World.” All in all, it could be a very good area to invest in 2021 and beyond.
4.Columbus Real Estate
Columbus is the third-largest city in Georgia and the fourth-largest metropolitan area. The city consists of 33 neighborhoods. It has affordable townhomes, and affordable condos.
In July 2021, the median list price of homes in Columbus, GA was $168K, trending up 9.4% year-over-year. The median listing price per square foot was $102. The median sale price was $126K.
Columbus, GA is a buyer’s market as of July 2021, which means that the supply of homes is greater than the demand for homes.
All in all, Columbus real estate market is set out to be super hot in 2021 and beyond.
5.Savannah Real Estate
Savannah is located along the Savannah River, about 20 minutes from the Atlantic Ocean and 3 ½ hours by car from Atlanta.
Savannah has been proactively wooing out-of-state technology workers to the metro area, creating a potential bonus for rental property investors. That’s because many tech employees are millennials, one of the prime demographic groups who prefer to rent rather than own where they live.
Add to this Savannah’s strong population and job growth, lack of land for new development, and a high quality of life and it’s easy to understand why the demand for real estate in Savannah is so strong and hot and this will continue to be so in this year and beyond too.
Final Thoughts of Georgia Real Estate
The pro-business environment of the state makes Georgia a great place to invest in real estate in 2021 and beyond, especially in cites namely Atlanta, Gainesville, Savannah, Columbus & Augusta- Opines Prolific Real Estate Advisor, Hirav Shah.
Housing costs that are below the U.S. average, low taxes, and an affordable cost of living make these cities great places to live and invest in real estate.
So, investors watch out for them !!
The major fortunes in America have been made in real estate.
So, what are you waiting for….Concludes Real Estate Astro-Business Strategist, Hirav Shah.
