Knox Investment properties in Atlanta, Dallas, Houston. Speak with Knox first.
The real estate market is constantly evolving. Ups, downs, stalemates, and sudden changes are all a part of the industry’s rhythms.
In order to keep up with all the movement, anyone looking to dip their toes into the real estate market needs to get up to speed with the latest updates to their area’s housing arena. Before embarking on any real estate journey, make sure you are doing the necessary research on the market’s latest trends and conditions to prepare.
Here’s an up-to-the-minute look at the current real estate market outlook in three major southeastern cities:
This Georgia gem is a thriving center of commercial commerce – and the real estate market is equally as bright.
Right now, home values are up in Atlanta. In fact, they’ve been rising steadily for the past eight years. The median price on a residential single-family home or condo in the area at the end of August was $333,217. Over the past year, home values have gone up 4.0% – which is quite impressive considering the hardships that the real estate industry has faced in 2020 due to the pandemic.
Moving ahead, market experts predict that real estate values will continue to rise over the next year by 4.7%. According to the data, it’s wiser to avoid selling right now. Redfin rates the market as somewhat competitive, with homes selling for 2% below the listed price and stalling on the market for an average of 37 days.
The good news is that rental demand is high while rent rates are on the rise.
Houston, Texas is known for being a popular oasis in the Southeast, offering metropolitan amenities and stunning nature access. It’s no wonder that this city is always attracting residents and tourists alike with its unique flair.
The local real estate outlook is just as appealing. Right now, housing prices are averaging out at $308,900, which is up +10.4% year-over-year. The median home value has risen over $50,000 since 2015 and home values in Houston have increased by 3.7% this year alone. Zillow predicts that the market’s value will continue to rise by 4.4% over the next year.
The rental market in Houston has been holding steady for the past three years and is projected to continue seeing a stable basis with slow growth over time.
Dallas is another Texas hotspot on the list of prime southeastern real estate markets. Known for its lively local ambiance, this trendy city provides unmatched charm and specialty experiences.
The housing market in Dallas is positive with home values rising by 3.0% in 2020. The current median home value in the area is $365,523 – marking a whopping +18.2% year-over-year growth. Data projections anticipate the values to rise by 4.6% in the coming year.
The rental market has seen +4% annual growth with average rental rates rising alongside the national average.
Southeastern Real Estate Market Analysis
After reviewing the status and trajectory of these three cities, it’s clear that the southeastern real estate market has much to offer to property owners.
The positive growth and strong market status demonstrates the resilience and value of southeastern real estate assets. Even on the upturn of a pandemic and market closure, properties in Atlanta, Dallas, and Houston are all bolstering significant profits.
If you were considering selling your home, you’ll definitely want to keep it, instead. These stats showcase what a strong place the regional real estate arena is in right now – and is set to stay. With the southeastern real estate market doing so well, don’t miss out on the chance to capitalize on the potential benefits to property owners.
Keeping your home as an investment property is a winning strategy for homeowners looking to diversify their portfolios with passive streams of income.
Knox Financial: Coming to a Southeastern Market Near You
Best of all, keeping your home and putting it to work for you has never been easier than with Knox Financial’s seamless and stress-free system. We do the work for you while you sit back, relax, and watch your bank accounts and property values grow. Being a successful and profitable income property owner is a goal for any homeowner looking to leverage their homes as an investment.
Good news to all property owners in these three southeastern markets… Knox is expanding into the area, giving property owners in Atlanta, Houston, and Dallas access to frictionless homeownership.
Get in touch with our dedicated team of experts to get your property producing income today! Visit our website to learn more about how we’re actively transforming home ownership investing, and stay tuned to the Knox Blog for live updates on our upcoming expansion.