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Real Estate Investment Market Report for Georgia, North Carolina, and Florida: January 2021

Quick loan application for construction funding

A hard money loan can be a good option for a variety of reasons. For example, if you’re having trouble getting a loan from a bank with the terms you need, you need quick approvals and/or funding, you’re looking for tailored loan solutions, and/or you don’t want to bring in an equity partner.

Now, let’s talk about what you should know before looking for a hard money loan, and ways you can ensure a quick and easy loan process.

Read full article (3 min read)

Market Activity

Atlanta, GA
Market Overview

Atlanta’s unemployment rate peaked in April at 12.7 percent. Recently the unemployment rate has dropped to 5.4 percent, which is well below the national rate. In addition, according to Cushman & Wakefield, the rebound in office-using employment, the strongest indicator of space demand, continued to outperform the national recovery. Since the second quarter, the area has regained 38,790 jobs.

1,612
Homes Sold
$349,950
Avg. Home Price
$1,685
Median Rent
Vacancy Rates Graph
U.S Census Bureau: third quarter 2020
6.5%
Rental Vacancy Rate
1.0%
Homeowner Vacancy Rate
5.6%
State Unemployment Rate
Metro Area Unemployment
Albany, GA
6.7%
Athens-Clarke County, GA
4.4%
Atlanta-Sandy Springs, GA
5.6%
Augusta-Richmond Co., GA-SC     
4.8%
Brunswick, GA
5.4%
Chattanooga, TN-GA
4.3%
Columbus, GA-AL
5.6%
Dalton, GA
5.2%
Gainesville, GA
3.5%
Hinesville, GA
4.8%
Macon-Bibb County, GA
5.9%
Rome, GA
4.4%
Savannah, GA
5.6%
Valdosta, GA
4.9%
Warner Robins, GA
4.6%

Market Activity

Charlotte, NC
Market Overview

Charlotte has remained strong and has been a hot spot for corporate relocations. At the end of 2020, 96.7 percent of Charlotte’s office-using jobs had been recovered, compared to 51.4 percent nationally. Intercontinental Capital Group and Arrival announced 500 and 150 new jobs, respectively in the Queen City, according to Cushman & Wakefield. North Carolina was also named Business Facilities’ 2020 State of the Year. 

1,540
Homes Sold
$295,000
Avg. Home Price
$1,401
Median Rent
Vacancy Rates Graph
U.S Census Bureau: third quarter 2020
4.5%
Rental Vacancy Rate
0.9%
Homeowner Vacancy Rate
6.2%
State Unemployment Rate
Metro Area Unemployment
Asheville, NC
5.7%
Burlington, NC
5.9%
Charlotte-Gastonia, NC-SC
5.9%
Durham-Chapel Hill, NC
5.2%
Fayetteville, NC
8.4%
Goldsboro, NC
6.1%
Greensboro-High Point, NC
6.9%
Greenville, NC
6.2%
Hickory-Lenoir-Morganton, NC      
6.1%
Jacksonville, NC
6.1%
Myrtle Beach-Conway, SC-NC  
5.7%
New Bern, NC
5.8%
Raleigh, NC
5.3%
Rocky Mount, NC
8.3%
Virginia Beach-Norfolk, VA-NC
5.2%
Wilmington, NC
5.5%
Winston-Salem, NC
6.0%

Market Activity

Orlando, FL
Market Overview

In November 2020, Orlando had the highest unemployment rate for a major market in Florida at 7.7 percent. The nonagricultural sector lost 125,0000 jobs year-over-year, while wholesale trade and transportation and warehousing and utilities, added 100 and 2,100 new positions, respectively. Over the last year, most losses came from the leisure and hospitality sector, which shed 84,700 jobs.

1,368
Homes Sold
$283,100
Avg. Home Price
$1,439
Median Rent
Vacancy Rates Graph
U.S Census Bureau: third quarter 2020
7.0%
Rental Vacancy Rate
1.6%
Homeowner Vacancy Rate
6.1%
State Unemployment Rate
Metro Area Unemployment
Cape Coral-Fort Myers, FL
5.7%
Crestview-Destin, FL
4.3%
Deltona-Daytona Beach, FL
6.1%
Gainesville, FL
4.7%
Homosassa Springs, FL
6.9%
Jacksonville, FL
5.2%
Lakeland-Winter Haven, FL
7.4%
Miami-Fort Lauderdale, FL
7.0%
Naples-Marco Island, FL
4.9%
North Port-Bradenton, FL
5.2%
Ocala, FL
6.0%
Orlando-Kissimmee-Sanford, FL
7.7%
Palm Bay-Melbourne-Titusville, FL
5.3%
Panama City, FL
5.1%
Pensacola-Ferry Pass-Brent, FL
5.3%
Port St. Lucie, FL
5.7%
Punta Gorda, FL
5.4%
Sebastian-Vero Beach, FL
5.8%
Sebring, FL
6.6%
Tallahassee, FL
5.6%
Tampa-Clearwater, FL
5.7%
The Villages, FL
6.3%
Homes sold and average home price data is from Redfin.com. Median Rent data is from rentcafe.com. 

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