Coweta Real Estate has good outlook for 2021
By Jess Barron, Lindsey’s Inc. Realtors
As we move into the new year, the future of real estate in Coweta County looks bright. There is a great amount of activity in all sectors, including industrial and commercial.
The area in and around “the Moreland exit”, or exit 35 off Interstate 85, is seeing spectacular industrial development with huge companies like Amazon and Goodyear operating in massive, 1,000,000-plus sq. ft. buildings there. If you drive down Gordon Road from there, you will notice residential developments and subdivisions up and down that road.
The downtown Newnan real estate market is as hot as it has ever been. The desire to be there, whether with a business or a home, is strong as ever. The prices reflect this robust demand. It is not uncommon to pay $150 a sq. ft. on a residential re-sale to be close to the Court Square in downtown Newnan. If you take a stroll around the square, you will see a vibrant downtown with many merchants despite the challenges of a pandemic. Most commercial spaces there are occupied with owners and tenants prospering.
New construction makes up a very large part of the inventory of listings in Coweta County. It is a great time to be a homebuilder. New homes are selling quickly at historic prices, despite the rising costs of construction materials. Sharpsburg and Senoia contain much of the new construction catalogue in the county.
Historically low interest rates aid buyers to afford more house and pay more for a house than ever before. Rising construction costs and an expected increase in interest rates are something to keep an eye on this year. Right now, the high demand for housing and low supply of listings are driving the elevated home prices in Coweta County.
Also, 55-years-old-and-up communities are doing well in this current market. Housing for the baby boomer generation is a huge part of the local real estate market. The Gardens at Arbor Springs in Newnan, are offering homes from the $400,000s to the mid $600,000s. The Cottages at Lake Redwine, in Newnan, are another 55-and-up development. Lots are being cleared and the plan calls for 57 units there. This development is located at the front entrance of Lake Redwine. Lennar Homes’ development at Timberbrook is another popular senior community on Highway 34 East in Sharpsburg.
Jess Barron is an Associate Broker with Lindseys, Inc. Realtors and former President of the Newnan-Coweta Board of Realtors.