In Georgia, we love springtime. The temperature is just right, and the daffodils and crocuses are blooming. This is one reason the real estate market peaks in the spring too.
In the summer it can get too hot, and many prefer to spend time relaxing or in the water. In the fall and winter, there are so many holidays, and it’s time to settle down for the cooler months.
This spring, there are many reasons why the Alpharetta real estate market will be hotter than ever. With the Georgia real estate market already on the rise, spring provides the added boost of colour and curb appeal to get homes sold. Read on to find out all the reasons why this spring is the best time to sell your home.
1. The Market is Already Heating Up
One of the only critical factors in this rise has been the dwindling housing supply. However, Alpharetta has very recently increased development so that the market is sure to grow even more.
2. Growing Population
With the increase in housing supply, the population of Georgia is also increasing. This makes the market especially primed for sellers. The population of Georgia is projected to grow by another 1.1 million by 2030, so the population could be up around 13 million statewide by 2040.
3. Job and Economy Growth
To top that, Georgia’s economy and job sectors are also increasing. What is perhaps most exciting is that Georgia is now boasting more jobs for residents than pre-pandemic levels. This is all good news for residents and those coming into the state from elsewhere.
One forecast projects the addition of 143,900 jobs in 2022 for Georgia. Increasing job sectors and job growth mean that real estate value will increase.
4. More Rentals
With more jobs come more workers. Not all workers will be able to afford a brand new house. Moreover, many will not be looking to purchase a new house if they are coming for work and planning to return to their home state after a while.
This presents an exciting investment opportunity for Georgia residents to earn some extra income. Buying an income property can be a great way to prepare for retirement or to have some extra mad money.
Data shows that renters currently occupy up to 36% of homes in Georgia. These renters are typically young families just getting started. As their earnings and families grow, they may also become interested buyers in the future.
Whether this spring or in the future, if you are a homeowner in Georgia who may be looking to sell, you are in a good position! If you would like to find out more information about buying or selling your home in Alpharetta, contact Alpharetta Zen for a consultation.