The sprawling Atlanta metroplex has long been a bustling commercial area. It serves as the headquarters of many multinational companies and a strong market for professionals in major industries. It's also home to boutique shopping districts, beautiful golf courses, and luxury houses that give Atlanta home sellers a big advantage in the real estate market. Buckhead, an in-demand neighborhood well-known for its history, architecture, and upscale living, is even stronger. Brandon Patterson has been serving the Buckhead community of homeowners with deep insights into the local market and years of real estate experience. Here, we've provided some of that knowledge into the local markets, the cost of living in Sandy Springs, GA, and good house-selling practices so you can thrive as you sell your home.
What home sellers should know about the current Buckhead, Georgia real estate market
The Atlanta-Sandy Springs-Roswell market has seen unprecedented growth over the past three years, with the median homeowner seeing a $118,400 equity gain over the past three years. Home sellers have translated this appreciation into large profits. The median home sales price in Q1 of 2023 was $354,300, over 50% higher than the median sales price three years ago. Despite the housing market corrections, our local markets appreciated by 1.1%, exceeding the national average of 0.3%. This demonstrates the strength of today's seller's market: home sellers in the Buckhead area continue to experience high demand and growth that surpasses the national average.
Combined with the strong job market across Atlanta, which saw a 3.1% job growth rate in just the last 12 months, many homeowners can get a high price for their homes. This can help you downsize, put a down payment on a new home, and start the next chapter of your life with a strong financial advantage. The cost of living in Sandy Springs, GA, is slightly lower than the national average, so selling your home at a high price provides even more financial strength than in many other markets around the country.
What is a seller's market?
Buckhead homeowners are currently experiencing both a "seller's market" and a "good market." If you're unfamiliar with these terms, let's discuss their differences and how they may affect negotiations and opportunities.
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Good market: A good market depends on what you want. Buyers want a variety of homes with the needed features at the right price. Sellers want to sell their homes quickly and conveniently at the price they want. The cost of living in Sandy Springs, GA also plays a role in defining a good market.
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Seller's market: A seller's market occurs when there are more buyers than available properties. Being in a seller's market gives you a strong position for negotiating other contract elements.
How to maximize your home's selling potential in Buckhead, GA
When you're ready to sell your home in the middle of a seller's market, you're in a great position. You can make it even stronger by working with a real estate agent from the start who can help you strategically prepare your home, list the property, and manage negotiations and marketing. Let's look at some of the specific approaches you can use to get an offer on your home that you love.
1. Make your home move-in ready
A move-in ready home gives you a stronger negotiating position, especially in upscale neighborhoods marketed towards high-income professionals. Many buyers are looking for a property they can immediately feel comfortable in and move into without making repairs or updates. Upgrading lighting fixtures, installing new carpets, and repainting the interior are ways to easily make your home move-in ready. More in-depth approaches include upgrading the bathrooms and kitchens, installing hardwood floors, and remodeling the landscape. The best approach for your home will depend on your budget, timeline, and specific home. There are also some upgrades with a well-documented impact of generating a 100%+ ROI.
2. Work with a realtor to develop a pricing strategy based on current market data
Before you put your home on the market or start hiring contractors for those upgrades, consult with a real estate agent about current prices in your neighborhood and what house-selling trends are the most profitable. This information includes listing and sales prices, time on the market, and some key home features that may have impacted the final sales price. With this information, you and your agent can create a listing strategy with a listing price you like and offer instructions that suit your needs.
3. Make your listing stand out from the crowd
The next step is making sure your listing entices plenty of buyers. While your real estate agent will handle the listing process and organize open houses to attract potential buyers, there are numerous strategies to make your property stand out and engage homebuyers.
These include:
These include:
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Staging your home for photographs and open houses: A professional staging service from the start increases buyer interest and a positive impression of a property. It leads to favorable offers and faster sales.
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Getting professional photographs: Online listings with professional, well-lit photos of interior and exterior perform better, increasing buyer interest and likelihood of submitting an offer.
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Provide lots of detail: Organizing warranty documents and past upgrades/renovations enhances your home's appeal. Prospective buyers like knowing everything they can about the quality of the home.
4. Know your preferred offer terms and have a real estate agent represent you during negotiations
When you're selling your home, there's a lot more than just the sales price that you can negotiate. You and the buyer will agree on terms such as who pays for different closing costs like title work, when the sale closes, what is and isn't included as part of the home, and more. You can even negotiate a leaseback, or an extended period of time to live in your home after the sale. This is advantageous if you plan on using the profits from the sale to put a downpayment on a new home.
Create a custom sales strategy for your Buckhead, GA, home with Brandon Patterson
Selling your home in an in-demand area can already help your property get a great sales price, but working with an experienced local agent helps ensure you aren't leaving money on the table. Brandon Patterson is here to help you learn more about your neighborhood's market and create a custom selling strategy that fits your goals. Reach out today to schedule a conversation. filler words. filler words. filler words.
*Header photo courtesy of Shutterstock
