Mar 20, 2017, 6:00am EDT
Cobb County residents may be concerned about rising property taxes but SunTrust Park is likely one of the main reasons home prices in Smyrna are rising.
According to RE/MAX Georgia, Metro Atlanta’s real-estate market continues to make substantial gains, with home sales and prices showing no signs of slowing down. The company recently surveyed its brokers and analyzed data provided by the local Metro Atlanta First Multiple Listing Service to determine what cities will be most in demand in 2017. Based on that analysis, RE/MAX Georgia names the following cities as real estate hotspots for 2017:
1. Smyrna– Located 10 miles northwest of Atlanta in Cobb County, Smyrna is an excellent option for younger buyers with its diverse neighborhoods, many amenities and proximity to the city. The numbers show that Smyrna is a sound investment as well. In 2015, the median home sale price in Smyrna was $292,000 – in 2016 that number jumped to $320,375.
“The development of nearby SunTrust Park makes Smyrna very appealing to younger buyers looking to stay close to the city,” RE/MAX Around Atlanta owner Kristen Jones said.
2. Chamblee– Located in DeKalb County just 14 miles from downtown Atlanta, Chamblee describes itself as a “vibrant urban city with a diverse community and international flair.” Buyers and sellers should expect homes to move quickly in Chamblee. In 2015, new listings were on the market for an average of 40 days – in 2016 that number dropped to just below 25, making Chamblee an undeniable hotspot.
“With a recent $300 million investment to jump start the redevelopment of the GM assembly plant, Chamblee is primed for appreciation,” Jones said.
3. Cumming– Known for its small-town feel, Cumming offers amenities that appeal to many young families, including a water park, playhouse, and fairgrounds with annual festivals and events. Median home sale prices in Cumming rose to $307,725 in 2016, up from $284,177 to 2015.
“Families continue to flock north and head to Cumming for great schools as well as more home/property for the money,” Jones said.
4. Alpharetta– Ranked No. 1 on Movoto’s “10 Best Atlanta Suburbs,” Alpharetta continues to be one of Atlanta’s real-estate hotspots. In 2015, the median price in Alpharetta was just over $366,250 – in 2016 that number jumped to $384,475. Excellent schools, shopping, recreation opportunities, and new developments are sure to drive Alpharetta’s future growth as well.
“Alpharetta is home to world-class dining, must-visit concerts, and endless parks and outdoor recreation. Expect to see Alpharetta’s growth continue rapidly in 2017,” RE/MAX Towne Square agent Tim Meek said.
RE/MAX Georgia Region Vice President Susan Goiser said Atlanta’s housing market was strong throughout 2016 and shows no signs of slowing down.
““We expect continued growth in each of these cities as buyer demand increases throughout the coming year,” Goiser added.
RE/MAX Georgia has more than 1,300 sales associates and 100 offices.
Phil W. Hudson is a music, sports and finance reporter.