Reflecting on 2024:
I hope everyone had a fabulous year, full of blessings and joy. For those who weren’t as fortunate and had a rough one, let’s step forward together, stronger, and embrace all the opportunities ahead!
Despite the challenges of this year, I’m very fortunate to have been able to help several special clients with their transactions, all while learning many important lessons in and outside of the real estate world. Entering 2025, I’m coming to y’all sharper and more fired up than ever, ready to help with all your real estate needs as your go-to Atlanta agent.
My Overall Take on the 2024 Atlanta Real Estate Market:
The Atlanta real estate market has been a bit of a whirlwind this past year, with “uncertainty” being the theme word of this past 2024. Overall, Atlanta home values stayed relatively steady, with a deceleration of price growth, limited inventory, and interest rates stabilizing mostly around the high 6%’s for a 30-year mortgage. This contributed to the rate lock effect (I’ll hit on more below) and a decline in transactions.
Many would-be buyers continued to sit out in hopes of more clarity, which helped contribute to more than 90% of Atlanta’s apartments being rented (how many more “new luxury apartments” do we need? @UrbanizeATL). I’ll delve into this more with the next market update.
In general, my take is that we have now fully entered into a balanced market as our new normal as it has been (see my Sep. 2023 update) within the past couple years and buyers and sellers are accepting that. I predict it may change and heat up in the coming months as we move into Spring with high pent-up buyer demand as has been the story of almost all election cycles, paired with the holidays.
That all may sound pretty negative, so bear with me (or should I say “bull” with me? Ha! Sorry, not sorry). I am a huge believer in finding the good in all situations, and my real estate outlook for 2025 is very positive. That said, I don’t expect to see interest rates dropping significantly any time soon. However, I am seeing growing buyer confidence as more housing options become available and new developments take shape.
“The best time to buy real estate was 20 years ago. The second best time is now!”
So, if you’re looking to buy, sell, rent or have any real estate questions – feel free to reach out, Ian Calabria at Keller Knapp Realty! I am available to help you. My cell is 678-337-2227, call or text me and my email is ian@iancalabria.com.
