Putting your Atlanta, GA home for sale this 2023 promises good profit potential. While the housing market throughout the US appears to be slowing down after the buying frenzy of the last two to three years, the Atlanta real estate market remains on track for another robust year. In fact, the National Association of Realtors (NAR) predicts Atlanta will dominate the U.S. real estate market this 2023.
But while The Big Peach remains a seller’s market in the first quarter of 2023, you should also be prepared to face tough competition from other home sellers. To get top dollar for your property, it’s important to do the right preparations and make your home a luxury real estate gem that stands out from the competition.
THE 2023 ATLANTA REAL ESTATE MARKET: WHAT SELLERS SHOULD KNOW
Researching the Atlanta housing market is a crucial step in preparing your home for sale. Understanding the market and what to expect from it can guide you in sealing the best deal and making the right decisions.
Here’s what you should know about the Atlanta real estate market this 2023.
- The demand for housing will remain strong
According to the NAR, Atlanta will remain one of the most sought-after communities in 2023 due to several factors:
- Real estate in the city is more affordable compared to similar cities throughout the country. Approximately 20% of renters in Atlanta can afford to buy a median-priced home.
- Employment opportunities remain strong thanks to the growing presence of large tech companies including Apple, Visa, and Microsoft.
- The city’s population continues to grow, fueling the demand for real estate.
- Atlanta property prices remain stable
While home prices in many parts of the US are seeing a decline, home prices in Atlanta remain stable. As of March 2023, the median listing price in the city was $399,000, which is virtually unchanged from March 2022. At the start of the year, the NAR predicted that home prices in the South – including in the Atlanta metropolitan area – will see an increase of at least 5% this year. This is significantly higher than the expected 0.3% gain that may be expected nationally.
- The luxury housing market continues to thrive
Homes in the luxury real estate market will continue to be in high demand this year, with investors banking on upscale properties’ history of rising values in the long term. One thing home sellers should keep in mind is that the “new normal” has ushered in a change in preferred home features, with many luxury home buyers now looking for plenty of outdoor space and flexible interior layouts.
- New construction inventory levels will remain low
The low inventory of new construction homes is one of the main reasons behind the hike in Atlanta property prices. Development costs in the area are high, so builders cannot produce inexpensive housing.
Many home buyers prefer new construction properties over resale ones. To remain competitive, it’s imperative for existing homeowners to understand what today’s buyers are looking for in a property. Updating your home with the latest sought-after features can help improve its value and make it more competitive in the market.
- The market is expected to remain fluid but stable
Fluctuating interest rates, economic factors, and low housing inventory all factor into the fluidity of current real estate market conditions. This makes working with a trusted Realtor a must. An experienced real estate agent can help you stay on top of market trends and navigate the dynamic conditions so you can achieve the best outcome.
ESSENTIAL TIPS ON PREPARING YOUR HOME FOR SALE
Making the most of market opportunities and achieving the best outcome in your home selling journey start with making the right preparations.
From deep cleaning every inch of your property to understanding what makes an appealing listing, here’s a checklist of what you need to do to get your house ready for sale this 2023.
- Declutter, depersonalize, and deep clean
While furniture, fixtures, and décor are necessary for staging, too much clutter can diminish the appeal of your home. Decluttering will make the place feel and look more spacious, and allow the buyer to visualize what they can do to make the space truly their own.
It is also important to make sure the home is spotless and clean down to every nook and cranny. Dirty, messy surroundings can give the impression that the home has not seen proper maintenance. Consider hiring a professional cleaning crew for a thorough result that can pass the closest scrutiny.
- Spot and address damages
Houses naturally show signs of wear and tear as they age. However, leaking pipes, faulty locks, flickering lights, and other signs of aging or lack of maintenance may be enough to send prospective buyers scurrying away.
When getting your house ready to sell, call repair and maintenance professionals and have them take a good look at your home’s plumbing, electrical, and heating and cooling systems. In addition, having your home inspected by a pro before putting it up for sale will help you identify and fix unknown problems before they become stumbling blocks to closing a sale. A clean bill of health from an inspector can also be an effective marketing tool, giving buyers the assurance that the home is in top shape.
- Stage your home
Home staging has been found in numerous studies to help sell a property faster and at a higher price. The main objective of home staging is to make it easy for buyers to imagine the space as their own. To achieve this, it’s important to declutter and depersonalize the space, starting with removing personal photos and memorabilia, and keeping items like toys, knick-knacks, and small appliances out of sight.
Staging your home is also an effective way to showcase its possibilities, highlight its best features, and downplay its flaws. Rearranging or changing the furniture, repainting the walls, and even replacing light bulbs can go a long way toward making your home more welcoming and appealing to prospective buyers.
- Dress up your home’s exterior
Sprucing up your home’s exterior is just as crucial as beautifying the interiors. Head outside to see what you can do to enhance your home’s curb appeal. The process doesn’t have to be tedious or costly. A fresh coat of paint may be enough to give your home a brand-new feel. Repairing or replacing dated doorknobs, mailboxes, or sconces can help elevate the property’s look and feel. Adding a few potted plants and inviting accents such as flower beds or a lovely seating area on the porch can also make the house look more attractive and inviting.
- Hire a professional photographer
If you want to sell your house fast in Atlanta, hire a professional real estate photographer to take your listing photos. Schedule the shoot when you’re done staging and cleaning the home so the photographer can capture its full potential. A professional photographer will know the best times and angles to shoot your home in order to show it in the best possible light.
- Work with a real estate expert
While selling a home is possible without an agent, it can also open you to costly mistakes and lost opportunities. According to a study by the NAR, For Sale By Owner (FSBO) homes sell for around 30% less than properties represented by an agent. So while you can save on commission fees by selling a property on your own, you will also lose out on the many benefits of working with a professional.
With their in-depth knowledge and experience, a Realtor knows how to market your home effectively to the right buyers, identify any needed repairs and upgrades to improve your home’s value, prepare attention-grabbing listings, stage your home, and so on. Most importantly, a professional knows how to price your home accurately and objectively.
- Price your home correctly
Pricing a home can be tricky. Asking for too much may turn away potential buyers and cause your home to sit longer on the market. In fact, overpricing is the number one reason a home remains unsold for a long time. On the other hand, underpricing your property can lead to lost profits. It’s essential to come up with the right listing price that will maximize your gains while keeping your property competitive on the market.
This is where the expertise of a real estate professional comes in. With their in-depth knowledge of the local housing market, they can conduct a Comparative Market Analysis that takes into account the selling prices of recently sold homes in the area, plus factors that affect home values, such as the size and age of the property, and the features that make a home more (or less) desirable. An experienced Realtor’s network may also include appraisers who can accurately determine the value of your home.
- Create an attractive listing
Want to sell your house fast in Atlanta? After preparing your home for sale, make sure to create a property listing that will catch the attention of potential buyers. Keep in mind that over 90% of homebuyers start their property search online, so an outstanding listing is essential to selling your home fast.
Creating a great listing falls into the skill set of an experienced Realtor, so this is one more reason you should work with one. In addition to eye-catching professional photos, an effective listing should include a detailed description of the property, highlighting the amenities that make it unique and special. Many of the most attractive listings today also feature cutting-edge tools such as videos and virtual tours.
WHAT TO DO AFTER LISTING YOUR ATLANTA PROPERTY
Marketing your property does not end with posting a listing. If you want to sell your home fast, you can take additional steps to maximize your home’s exposure and catch the attention of the right buyers.
Here are five things you can do after listing your property in Atlanta, GA.
- Have a strong marketing plan
Work with your Realtor in creating a marketing plan that can increase your reach and give you a wider pool of buyers. Your real estate agent will likely utilize an arsenal of marketing tools, such as promotional videos or flyers to be distributed to a targeted market. Other potential marketing techniques include placing ads on selected publications or websites and a social media page dedicated to your property. Your Realtor can also utilize their network to spread the word about your listing.
- Check your listing description
Along with your property’s photos, your listing description is one of the first things a buyer will see about your home. Always check the description before and after your listing goes live. See if it captures your home accurately and showcases its most outstanding features. Additionally, look for grammatical errors that can mar the listing’s effectiveness and credibility.
- Hold an open house
If you need to sell your house fast in Atlanta, hosting an open house just might be the way to go. These face-to-face events allow you to show your home to several interested buyers at the same time and potentially spread the word about your listing.
As an alternative to a regular open house, your Realtor might consider holding a broker’s open house, where only brokers and other real estate agents are invited. A broker’s open house may be a more effective marketing strategy. Unlike a regular open house that might also attract people who are not serious about buying, a broker’s open house exposes your property to professionals who can market your home to their clients.
- Schedule a ‘meet the neighbors’ day
Your property’s appeal, condition, and price are not the only factors buyers will consider before making an offer. They will also want to learn about the neighborhood, especially the people living next door.
A ‘meet the neighbors’ day usually happens during an open house. You can invite nearby residents to drop in at the event and talk to potential buyers about what it’s like to live in the community. If your neighbors are unavailable for the open house, you can arrange a meeting to introduce prospective buyers to them.
- Keep in touch with your real estate agent
Keeping the communication lines open between you and your agent is crucial to ensure a smooth transaction. If you or your Realtor have concerns about your property’s listing, addressing them as early as possible can save you time and headaches down the road. Constant communication with your agent can also help allay your own fears and apprehensions – something a dedicated professional will only be too happy to do.
SELL YOUR HOUSE FAST WITH ATLANTA REAL ESTATE EXPERTS
Planning to sell your Atlanta home? Let the experts at HOME Luxury Real Estate help you have a successful outcome.
We are a team of dedicated real estate professionals who are committed to giving our clients an enjoyable home-buying and selling experience in Atlanta, GA. Each of our 30 outstanding agents has been recognized by the Atlanta Realtors Association as a top producer in the area – a testament to the level of excellence we adhere to in representing our clients.
Allow the high-performing Realtors at HOME Luxury Real Estate to help you sell your home fast and at the highest price. Learn how to get your house ready to sell by calling us at 404.383.HOME (4663) today!