Spring Real Estate Market in Atlanta: Insights & Featured Listings with Harry Norman, REALTORS
Tuesday, April 16th, 2024
Historically, the spring season welcomes more listings, driving prices higher and attracting new homebuyers. This presents a golden opportunity for sellers who can benefit from rising prices, while purchasers must be prepared to act swiftly on desirable properties. The second quarter of 2024 looks promising as buyer demand regains its strength, more homes hit the market, and home values continue to appreciate at a rate that outpaces national trends.
“The spring market is unfolding with remarkable vigor across Atlanta and broader Georgia,” said Jenni Bonura, Harry Norman, REALTORS® President and CEO. “We’re witnessing a convergence of factors, from projected drops in interest rates to heightened buyer demand, driving increased activity and enthusiasm within the market.”
Following a lack of inventory in the 2023 market, 2024’s first quarter data signals a positive outlook for Atlanta buyers, with new home listings in February surging 25.6% notably higher year-over-year than the 18.3% national increase. Available inventory in metro Atlanta expanded by 18.2% compared to 3.6% nationwide, and homes are flying off the market 24% faster than this time last year. While the market remains a seller’s territory, it is moving toward a more balanced landscape, showing positive signs for purchasers as months of inventory expanded by 39.5% year-over-year while days on the market declined by 11.9%. Harry Norman, REALTORS® predicts that as inventory continues to grow and mortgage rates stabilize, buyer leverage should improve in the coming months.
Harry Norman, REALTORS®’ climbing roster of luxury home listings exemplifies this inventory influx, presenting opportunities for a variety of bespoke buyers around Atlanta:
3871 Powers Ferry Road NW: This Chastain Park modern marvel boasts six beds, seven full baths, and two partial baths across 6,852 square feet of awe-inspiring interiors. It features 25-foot ceilings, a custom-curated kitchen with high-end quartzite counters, walk-in pantry, and a gorgeous bar with seating. The open layout seamlessly blends space for both entertainment and tranquility, offering a media room with bar and home gym space, resort-style main bath, open loft upstairs, laundry on both levels and a covered balcony, and a heated pool with built-in spa, all uniquely set on a private lot. Listed by Todd Bannister. View photoshere.
5021 Heatherwood Court: Nestled in Roswell, this majestic, hilltop estate offers breathtaking views and unparalleled privacy. With over 10,000 square feet, seven beds, eight full baths, and one-half bath plus a steam sauna, it features spacious rooms, high ceilings, and arched doorways that exude excellence. Highlights include a two-story foyer, chef’s kitchen, library/office, main level primary suite, movie room, gym, and an in-law suite complete with a kitchen. Listed by Rebecca Winfrey and Lisa Smith. View photos here.
205 Peachtree Circle: This classic 1900 home in Ansley Park lives on one of the neighborhood’s largest lots, well over an acre in the heart of Midtown Atlanta! The grand living room features stunning original hardwood floors, a fireplace, and high ceilings, flowing seamlessly to a spacious dining room and chef’s kitchen. Upstairs, find four beds and three baths, including an oversized primary suite with a fireplace and a dual primary bathroom. The fourth floor is home to an additional living space with a kitchenette, two beds, and a full bath, ideal for hosting guests. The terrace level offers a pool table area, kitchenette, gym, full bath, and theater room. Outside, the backyard features a koi pond, luxurious pool, guest house, and three-car garage with ample parking. Listed by Erin Yabroudy. View photos here.
841 Camden Park Court: Nestled on a serene, landscaped lot in North Buckhead’s The Park at Brookhaven, this European-inspired estate exudes unparalleled elegance and quality. Indulge in the gourmet kitchen, tranquil master suite, and fully finished terrace level, perfect for entertaining with amenities like a billiards room, den, game room, and theater room equipped with a Foresight GC Hawk Golf Simulator and a spacious 215-inch screen. This home epitomizes luxury living, seamlessly blending sophistication and comfort. Listed by Katiti Mwebe. View photos here.
Looking ahead, Harry Norman, REALTORS® expects sustained growth and expansion for Atlanta’s real estate market, fueled by the region’s soaring population, which will continue igniting housing demand and development across the metro area for years to come. As the season unfolds, Harry Norman, REALTORS® stands as a pillar of strength and expertise, empowering clients to embark on their real estate journey with confidence and clarity amidst the vibrant springtime market.
Interviews are available on request.
|
