The state of Georgia is rapidly emerging as a pivotal player in the U.S. real estate market, attracting buyers and investors alike. Ryan Serhant, CEO of SERHANT and star of Netflix’s ‘Owning Manhattan,’ has expanded his brokerage into Georgia, citing strong demand from clients moving to or investing in the region. The decision aligns with Georgia's burgeoning economy, driven by tech and entertainment industries, along with Fortune 500 companies establishing operations there. With significant job creation and substantial investments like Hyundai’s Metaplant America near Savannah, Georgia's appeal continues to grow. Both urban centers such as Atlanta and suburban areas are experiencing balanced interest, reflecting broader demographic shifts post-pandemic.
Georgia’s prominence in the real estate landscape is bolstered by its economic vitality. According to Serhant, the state offers an attractive blend of opportunities, including a robust jobs market and favorable tax policies compared to traditional hubs like California. Atlanta, often dubbed "Hollywood of the East," benefits from a thriving entertainment sector, drawing talent and investment through studios led by figures like Tyler Perry. Last year alone, the state witnessed over 121,500 home sales, with prices increasing by nearly 3%. This trend extends beyond Atlanta, with cities like Savannah gaining attention for affordability and lifestyle enhancements.
Serhant attributes much of this growth to two key factors: the expanding job market and current interest rates. Unlike other regions where potential buyers may be waiting for rates to drop, Atlanta continues to see steady activity. In February, the most recent data available, nearly 8,200 homes were sold across the state at an average price exceeding $430,000. Additionally, projections suggest Georgia's population will grow twice as fast as the national average in 2025, further fueling demand. By 2050, the Atlanta metropolitan area alone could add nearly two million residents, reinforcing its status as a major economic hub.
While acknowledging that predicting markets can be uncertain, Serhant envisions a bright future for Georgia's real estate. He anticipates a tenfold increase relative to competitors within the next five years if job growth persists and interest rates decline. Such conditions could propel the state into a leading role in the national market. Federal forecasts indicate potential interest rate cuts this year and beyond, which might accelerate buying trends.
As Georgia continues to draw new residents and businesses, its real estate sector remains poised for sustained expansion. The convergence of economic strength, cultural vibrancy, and strategic investments positions both urban centers and suburban locales as attractive options for buyers. Whether drawn by professional opportunities or quality-of-life improvements, the influx of newcomers underscores Georgia's transformation into a dynamic real estate hotspot.