To Market, To Market
The Atlanta real estate market shows no sign of slowing down. “There’s still not a lot of inventory,” says Shanna Bradley, top-performing realtor with ANSLEY ATLANTA REAL ESTATE’s Buckhead office. That means that savvy agents network to snap up desirable properties before they’re officially available. For an in-town home that’s in move-in-ready condition, it’s rare for it to sit on the market for even 30 days. “Bidding wars, multiple offers and backup contracts are common,” she adds. Bradley finds that open-concept living spaces, clean white paint both indoors and out, neutral palettes and indoor-outdoor living spaces are universally appealing.
While searching for the perfect lot for a custom home was once commonplace, “dirt has gotten so expensive,” explains PACES BUILDER GROUP’s Jim DeLany. “Tear-downs seem to be happening less than they were five years ago. Instead, people are opting to renovate and add on.” Remodeling or purchasing an updated home can net buyers more bang for their buck. For instance, in Buckhead’s Kingswood neighborhood, Bradley says, “New construction houses are in the $3- to $4-million range, while older homes [with similar square footage] are in the $2-million range.”
Plus, because of rising skilled labor and material costs, and the millennial preference for simpler, less cluttered spaces, DeLany has noticed that clients are eliminating unnecessary or occasional rooms—even in upscale luxury projects. “People want to build and pay for things they’re going to use regularly,” he says.