Georgia – The Housing Market is Poised to Get “Peachy” in 2013
As 2012 came to a close, Georgia was the place to get a “peach” of a deal on a home! According to research done by Coldwell Banker, the Peach State was the 3rd-most affordable state in America, with the average home costing just under $170,000.
If you’re looking to live in Georgia on a tighter budget, head to College Park. According to a study done at the end of 2012, the average house for sale there can be yours for just over $62,000. Or, if you’ve got money to burn – and you don’t mind living in the Peach State’s most expensive housing market – move to Dunwoody. It’s home to the most expensive houses for sale in Georgia, with a median sales price of nearly $340,000.
But realtors in Georgia won’t feel good about the Peach State’s progress without big-time recovery in Atlanta. So, how are thing’s looking in Georgia’s biggest city?
Much better than they have in recent years – especially for the homes for sale in Atlanta’s premier areas.
Even though buyers don’t have as much money as they did back in the mid-2000’s, lately, realtors have been the busiest in Atlanta’s most exclusive neighborhoods. They say it’s because buyers want to be close to things like shops, restaurants, and other amenities – and those luxury areas (especially near Intown and Midtown) offer all of that. And, since Atlanta’s traffic isn’t exactly considered a good thing, buyers are willing to pay more for the convenience of walking!
Thanks to lower prices and low mortgage rates, the homes for sale in Atlanta are much more affordable than they have been in awhile. As a result, many more people can afford to buy them – meaning the demand has gone way up. That alone is a great way to get the area’s housing market back on track!
But what about Georgia’s second-largest city?
After all, Atlanta can’t do everything! Luckily, Augusta seems to be pulling its weight, too.
First and foremost, economists predict Augusta will see an increase in jobs in 2013. That alone can cause an upswing in the local housing market. However the city isn’t planning on stopping there.
Prices for the homes for sale in Augusta rose 4% in 2012, and economists predict they’ll increase even more in 2013. Plus, homes here started selling much faster as 2012 went along, and there’s no reason to believe that trend will stop anytime soon.
All in all, it could be a “peachy” year for Georgia’s housing market!