major changes throughout 2021. Atlanta’s local
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I
t’s no secret that the real estate market saw market was no exception, as homes flew off the market like hot cakes. Now, as 2022 is upon us, those who are planning a move to or within
the metro area might wonder what that means when it comes to their residential choices. For individuals looking to move intown, there is an excellent option: condos. “Demand for ownership is soaring, and with the single-family market experiencing record-low inventory levels, there simply aren’t enough standalone homes to go around. Interested buyers are starting to look elsewhere in the market, and condos are an attainably priced substitute, which can also help ease the transition from renting to home ownership,” explains Christa Huffstickler, founder and CEO of Engel & Völkers Atlanta. “Atlanta has long been one of the hottest markets in the southeast and nationally, and as home prices continue to rise in areas where the cost of living is higher, people will continue to flock to this city and will want to
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establish roots by purchasing a home. Securing a home in an intown condo community will lock in substantial future returns, both in the short-term and long-term as home values keep skyrocketing in a tight and ever-evolving market.” With condos in Atlanta becoming one of the fastest-selling products in the metro area’s real estate market, it’s important to take a look at the options available if you’re ready to make a move as the new year gets underway. “In Atlanta, the condo market is set to enter the same space single-family is in right now, with supply hitting record lows and boosting the value of available product. Buy sooner rather than later,” Huffstickler adds. “Atlanta is unique in that we’re one of the cities where there are more people moving in than out, and the trend shows no signs of slowing. While developers are building new communities and adding supply, it will take years before things balance out—so it’s better to lock down a home now.”
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