TAYLOR
LINGINFELTER
HELPING YOU FIND YOUR WAY home Local Real Estate News Brought To You By The Taylor ∙ Linginfelter Team
SPOTLIGHT ON
MILLENNIALS
This demographic continues to emerge as a real mover in overall residential real estate market. Whether renting or buying, their preferences and patterns are interesting to watch: • Many who are purchasing are doing so with 0% down loans AND avoiding PMI. Obviously, their credit scores need to be high to do this. • Millennials are EXTREMELY reliant on visuals to make their decisions. Sellers and their Realtors who may be appealing to this market must make sure their best presentation is made via photos and other forms of virtual marketing. • Though Millennials continue to make up a large portion of the home buying market, many are opting to rent instead of purchasing. But the rental unit better have lots of amenities and be very upscale in appearance. The space can be as small as 350 square feet (they don’t prefer large living spaces), but interior finishes must be sharp, crisp and upscale. The communities also must offer amenities such as fitness classes, spas, and coffee bars.
We specialize in the Millennial Market. If you or someone you know owns a property that may appeal to Millenials and are thinking of selling, give us a call!
QUICK BUCKHEAD SNAPSHOT
LIST PRICE:
MIN
MAX
AVERAGE
MEDIAN
$70,000
$14,700,000
$1,867,242
$1,335,000
SPOTLIGHT ON
55+
Interestingly, the 55 and up demographic has many of the same preferences as Millennials. However, their reasons for these preferences and how they approach the buying process is quite different than Millennnials. • They also want smaller spaces and prefer not having too much to maintain. This is mainly because they have been there before and know the time, costs, and efforts, of maintaining large spaces. • The 55+ buyer prefers a high end “luxury” feel in their homes. They’ve earned it. • They want active and social communities with amenities. • 55+ homeowners want a lock and leave lifestyle and may own multiple homes. • 55+ differ from Millennials in that they want stepless, one level living, or at the least Mastes on the Main.
• Safety and Security are paramount to these homeowners. • They generally stay in the cities where they have lived most of their lives. Some prefer to move further out, but for the most part, they are staying close to home.
We specialize in the 55+ market as well as the aging adult market. We both hold Seniors Real Estate Specialist (SRES) Charters from the National Association of REALTORS® (NAR). If you or someone you know needs help selling a property—whether locally or nationwide—please call us!
The Atlanta REALTORS® Association (ARA), the largest association of its kind in Georgia released its January 2018 Market Brief on residential housing statistics in metro-Atlanta. The Market Brief, compiled by First Multiple Listing Service (FMLS), provides the only regionally focused synopsis of monthly sales and home prices for single family residential properties. Covers 11 counties: Cherokee, Clayton, Cobb, DeKalb, Douglas, Fayette, Forsyth, Fulton, Gwinnett, Paulding and Rockdale. JANUARY COMMENTS Demand: January residential sales were at 3,013, a decrease of 4% from the previous year. Price: Average and median sales prices continue to gain traction and outpace 2017’s figures, with positive gains. The median sales price in January was $245,000, an increase of 9.9% from last January. The average sales price was $299,000, up 7.6% from the previous year. Supply: Atlanta area housing inventory totaled 10,735 units in January, a decrease of 27% from January 2017. New listings totaled 3,582, down 12.7% from January 2017 and up 41% from the previous month. The month’s supply over a 12-month perioud decreased to 2.2 months.
GET IN TOUCH
The Taylor • Linginfelter Newsletter was curated by Alex Taylor and Matt Linginfelter. If you are interested in learning more about the residential market, buying/ selling a home or sponsorship opportunities please feel free to reach out to us.
Alex Taylor | Broker Associate 404.395.9930 (C) 404.261.2700 (O) Alex.Taylor@HarryNorman.com Matt Linginfelter | Broker Associate 404.202.9916 (C) 404.261.2700 (O) Matt.Linginfelter@HarryNorman.com Roger Webster | REALTOR® 404-495-8230 (C) 404.261.2700 (O) Buckhead Northwest Office 4401 Northside Pkwy NW, Atlanta, GA 30327 404-261-2700 • Shea Zimmerman, Managing Broker The above information is believed accurate, but is not warranted. This offer is subject to errors, omissions, prior sale and withdrawals without notice. Equal Housing Opportunity.
roger.webster@HarryNorman.com Visit Us Online: AlexTaylorWeb.HarryNorman.com Senior Real Estate Specialist (SRES) • Accredited Relocation Specialist (ARS)• Accredited Buyer Representative (ABR)