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

private money lenders

How the Commercial Real Estate Lending Environment Might Differ in a Post-COVID-19 World

It goes without saying that the global toll of the COVID-19 pandemic has been substantial. Like many other industries, the real estate lending sector has also been impacted. However, the market is still functioning, and investors still have access to financing. But how that funding is accessed, as well as the terms and structures of loan packages, have changed slightly to reflect the new environment. In this article, we’ll explain what investors should be aware of and how construction lending can evolve as the nation recovers from the pandemic.

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Market Activity

Atlanta, GA
Market Overview

The Atlanta metro area’s economic outlook continues to improve thanks to positive national and local economic data. in March, Atlanta’s unemployment rate slightly decreased month-over-month. Atlanta lost 44,300 jobs in January, but don’t panic – this is normal due to seasonal holiday hires leaving the workforce. This does break an eight-month streak of job growth, yet all signs are pointing towards another positive streak.

1,248
Homes Sold
$339,000
Avg. Home Price
$1,901
Median Rent
Vacancy Rates Graph
U.S Census Bureau
7.8%
Rental Vacancy Rate
1.1%
Homeowner Vacancy Rate
5.1%
State Unemployment Rate
Metro Area Unemployment
Albany, GA
6.5%
Athens-Clarke County, GA
4.2%
Atlanta-Sandy Springs, GA
5.1%
Augusta-Richmond County, GA-SC
4.8%
Brunswick, GA
4.7%
Chattanooga, TN-GA
4.7%
Columbus, GA-AL
5.4%
Dalton, GA
5.6%
Gainesville, GA
3.3%
Hinesville, GA
4.7%
Macon-Bibb County, GA
5.8%
Rome, GA
4.7%
Savannah, GA
5.2%
Valdosta, GA
4.9%
Warner Robins, GA
4.5%

Market Activity

Charlotte, NC
Market Overview

Charlotte’s outlook remains positive. The city’s suburban submarkets are expected to continue to flourish as real estate investors and tenants look to value, affordability, and convenience. As national investors continue to chase yields at this point in the market cycle, cities like Charlotte should remain attractive and produce higher investment volumes than gateway markets. Experts believe developers will focus on highly sought-after urban infill (midtown) areas.

1,109
Homes Sold
$308,000
Avg. Home Price
$1,460
Median Rent
Vacancy Rates Graph
U.S Census Bureau
6.9%
Rental Vacancy Rate
0.9%
Homeowner Vacancy Rate
5.9%
State Unemployment Rate
Metro Area Unemployment
Asheville, NC
5.5%
Burlington, NC
5.9%
Charlotte-Concord-Gastonia, NC-SC
5.8%
Durham-Chapel Hill, NC
4.9%
Fayetteville, NC
8.2%
Goldsboro, NC
6.3%
Greensboro-High Point, NC
6.7%
Greenville, NC
5.9%
Hickory-Lenoir-Morganton, NC
5.8%
Jacksonville, NC
6.3%
Myrtle Beach-Conway, SC-NC
7.4%
New Bern, NC
5.8%
Raleigh, NC
5.0%
Rocky Mount, NC
8.1%
Virginia Beach-Norfolk, VA-NC
6.5%
Wilmington, NC
5.5%
Winston-Salem, NC
5.8%

Market Activity

Orlando, FL
Market Overview

Employment and population gains for the Orlando market are generating demand for apartments. As more vaccines become readily available across the nation, people will begin to travel again, and experts predict Orlando will be a top destination. The metro area is also expected to benefit from the addition of nearly 40,500 new residents during 2021, which will grow the population by 1.5 percent. Meanwhile, the average home price increased 13.8 percent in 2020. This surge, plus a shortage of single-family homes will lead many residents into apartments.

1,120
Homes Sold
$290,000
Avg. Home Price
$1,400
Median Rent
Vacancy Rates Graph
U.S Census Bureau
6.9%
Rental Vacancy Rate
1.5%
Homeowner Vacancy Rate
4.8%
State Unemployment Rate
Metro Area Unemployment
Cape Coral-Fort Myers, FL
4.6%
Crestview-Destin, FL
4.0%
Deltona-Daytona Beach, FL
5.1%
Gainesville, FL
4.3%
Homosassa Springs, FL
6.3%
Jacksonville, FL
4.4%
Lakeland-Winter Haven, FL
5.7%
Miami-Fort Lauderdale, FL
6.4%
Naples-Immokalee-Marco Island, FL
3.9%
North Port-Sarasota-Bradenton, FL
4.4%
Ocala, FL
5.3%
Orlando-Kissimmee-Sanford, FL
5.8%
Palm Bay-Melbourne-Titusville, FL
4.5%
Panama City, FL
4.5%
Pensacola-Ferry Pass-Brent, FL
4.6%
Port St. Lucie, FL
4.8%
Punta Gorda, FL
4.8%
Sebastian-Vero Beach, FL
5.0%
Sebring, FL
6.3%
Tallahassee, FL
4.9%
Tampa-St. Petersburg-Clearwater, FL
4.6%
The Villages, FL
6.0%
Homes sold and average home price data is from Redfin.com. Median Rent data is from jumper.com. Data shown in this email is an average over the last month unless otherwise marked

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