In 2023, the real estate landscape in DeKalb County continues to exhibit strength and stability, presenting lucrative opportunities for property owners and investors. Its dynamic housing market offers a diverse selection of properties for sale, with a median list price of $376.99k.
From affordable housing options starting at $57k to luxury homes reaching $4.25m, there is a wide range of choices catering to various budgets and preferences.
Additionally, with a rapidly growing population, a thriving job market, and historically low mortgage rates, DeKalb County’s housing market has become attractive for those looking to capitalize on the region’s potential.
However, before making any crucial investment decision, it is necessary to understand the current market trends and conditions to ensure you thrive in this diverse market. As experienced professionals in the area, we offer a comprehensive overview of the future trends in real estate and property management investing in Georgia.
DeKalb County Rental Market Trends
Investors can make the right property-buying decisions based on the following market trends.
Consistent Price Appreciation
The housing market in DeKalb County, Atlanta, has demonstrated a prominent trend of steady price appreciation. This resilience is reflected in the continuous upward trajectory of median and average sales prices, underscoring the market’s strength.
In DeKalb County, the median sales price for March 2023 reached $397,000, exhibiting a modest growth of 0.5% compared to the same period in 2022. Concurrently, the average sales price climbed to $478,500, showcasing a healthy increase of 1.7% year-on-year.
This sustained price appreciation signifies the enduring allure and desirability of properties within DeKalb County. Despite the decline in sales volume, the market remains robust, providing favorable prospects for property owners and investors.
Increased home prices
Alongside the steady price appreciation, the DeKalb County, Atlanta housing market is witnessing a notable upward trend in home prices. This trend is evident from the substantial growth observed in both the median and average sales prices, underscoring the dynamic nature of the market.
In March 2023, the median sales price in DeKalb County soared to $397,000, registering an impressive 2.6% surge compared to the previous month. Likewise, the average sales price climbed to $478,500, representing a robust increase of 3.8% compared to February 2023. These substantial month-on-month increases signify a strong demand and upward pressure on prices in the area.
Moreover, a notable price disparity exists between single-family homes and condos. Over the past few months, single-family homes commanded an average price of $221.03k higher than condos. This price differential highlights the preference for single-family homes and their potential for greater returns on investment.
Supply and Demand Dynamics
Furthermore, the sale price of single-family homes experienced a significant 10.8% increase compared to the previous month, while condos saw a 6.6% increase. These rising prices indicate a strong market and potential appreciation for property owners and investors.
In DeKalb County, single-family homes are typically on the market for a shorter duration than condos. On average, single-family homes stayed two days less on the market than condos. This trend suggests higher demand and faster turnover for single-family homes, making them appealing to property owners and investors seeking quicker returns.
This demand for single-family homes is evident from the sales data. For every 341 single-family homes sold, only 54 condos were sold on average. This significant difference in sales numbers indicates a higher preference and demand for single-family homes. Property owners and investors can leverage this demand by focusing on single-family properties to meet the market’s needs.
Strategic Opportunities in the Market
Despite the competitive nature of DeKalb County’s housing market, there are still strategic opportunities for property owners and investors. One approach is to explore neighborhoods experiencing growth and development. These areas often offer affordable housing options with the potential for future value appreciation.
Another option for buyers is to consider older homes that require renovation. In DeKalb County, there are opportunities to find fixer-uppers at a lower price point. By investing in renovations, buyers can secure a property at a more affordable price and build equity in their investment over time.
For sellers in DeKalb County’s market, it is crucial to capitalize on the current seller’s market. Enhancing the curb appeal of a property, upgrading fixtures, and repairing damaged areas can maximize the value of homes and attract potential buyers. The high demand and rising prices can help sellers secure the best value for their properties.
While DeKalb County’s housing market currently favors sellers, there are still promising opportunities for buyers and sellers alike. Increased home prices, reduced days on the market, and the higher demand for Single Family homes all contribute to the market’s strength and stability.
The Rising Importance for Property Management Professionals
When investing in DeKalb County, it is crucial for investors to grasp the market dynamics, tenant demand, and current rental prices, among other critical factors. However, finding the time to navigate the market amidst a busy schedule can be challenging. That’s where the renowned property management company comes in.
Silas Frazier Realty, LLC is a leading property management company serving Atlanta, Snellville, Stone Mountain, Lilburn, Conyers, Smyrna, Marietta, Lithonia, Jonesboro, McDonough, Vinings, Brookhaven, and Tucker.
With 20+ years of experience and a team of experts in the real estate industry, you can trust that at Silas Frazier Realty, LLC we are professionals who deeply understand the DeKalb County market. We meticulously analyze market trends and consider strategic options, such as identifying growth areas and renovation projects, to help investors and property owners make informed decisions.
Whether you are an investor or property owner, we ensure you stay ahead of the competition and make the most of your investments.
Contact us today to learn more about the current market trends and how Silas Frazier Realty, LLC can assist you in DeKalb County.