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Watkinsville, Georgia is booming. A number of demographic, business and quality of life indicators for Watkinsville and Oconee County, Georgia are heading in the right direction for a community of its size. Home to a top rated public school system, Watkinsville is an attractive alternative to living in the Athens, Georgia area but with less density and more of a suburban style of development. A growing number of remote workers are also calling Watkinsville home due in large part to the area’s high quality of life and the fact that many major employers in the Athens area conduct business on-line. As a result, Watkinsville is experiencing steady growth in terms of both its population and its real estate market.
Why Watkinsville Is Growing
Oconee County is constantly ranked near the top of the state in various quality of life statistics. Most notably, the public school system is among the highest performing in the state. As a result, many families from the Atlanta area and elsewhere are relocating to Oconee County to take advantage of the schools and to live in a more suburban setting, yet still be close to the city of Athens and the University of Georgia.
According to the U.S. Census Bureau, the population in Oconee County has continued to rise throughout the last decade and exceeded the average growth rate of similar Georgia counties. Watkinsville real estate is consistently increasing in value and, in many cases, there is not enough inventory to satisfy buyer demand.
The Athens-Clarke County economy, driven by the University of Georgia, local health care systems and a growing technical/creative economy, extends westward into the heart of Watkinsville, with employers in the area drawn to Watkinsville by the town’s more family-oriented amenities. A growing group of University of Georgia faculty and staff drawn to Watkinsville by its more suburban amenities contributes to Watkinsville’s status as the hub of the county’s north central communities.
The Real Estate Market Responding to Demand
Demand in Watkinsville is being further fueled by a number of new developments. A number of single-family home subdivision have been recently completed. A number of new townhome and condominium communities have been built in the last several years. Many mixed-use developments have been built recently, providing Watkinsville residents and businesses with the type of amenities that make for a great community such as retail, restaurants, banks, medical offices and more. As for resales, Watkinsville’s housing inventory is struggling to keep up with demand and existing homes are selling rapidly.
The growth is also causing land prices in Watkinsville to appreciate dramatically over the last few years. While prices are yet to reach levels comparable to similar communities in the Atlanta metropolitan area, the growth in land values near downtown Watkinsville as well as along Highway 316 are very encouraging for developers. The growth of Watkinsville and Oconee County as a whole is not slowing anytime soon and is creating opportunities for a wide array of real estate related projects.
The rental market for Watkinsville homes for rent in Oconee County is experiencing significant growth. Rental homes in Watkinsville are becoming more popular for remote workers, families and young professionals due to increasing home prices and competitive real estate market. New investors are looking to capitalize on this rental opportunity by buying homes for rent in Watkinsville. To successfully buy homes for rent in Watkinsville, new investors need professional property management to find tenants, manage day-to-day operations and handle maintenance. As the local rental market continues to grow, there is a definite need for quality property management companies that can provide all the necessary services for rental homes in Watkinsville, Oconee County.
Property Management Entering the Market
However, a telling characteristic of a real estate market that is reaching maturity is for property management companies to establish offices in key markets to better serve properties and clients within a specific area. Watkinsville has recently begun to attract many professional property management companies who are relocating from Athens and opening up new offices within the Watkinsville area in an attempt to serve clients within Oconee County from a more central location.
Watkinsville is starting to get attention from reputable property management companies — for instance, one firm, Iron Horse Property Management has experienced enough growth that they relocated and focused their marketing on Watkinsville, reports Goodjuju Marketing, who handles this through targeted growth strategies that have helped the property manager expand their presence. In fact, Watkinsville is becoming a hub for Property Management Companies as it has for Realtors and Home Builders. Watkinsville is becoming a central location for all of Oconee County.
Being a landlord can be time-consuming and Watkinsville, as the housing market continues to grow and more rental inventory is being put on the market, it can be hard to keep up with the ever-changing rules, regulations and processes of managing a rental property. Having a property management company assist you in managing your rental property can be a huge benefit to help keep up with all of the tasks that are required as a landlord.
What This Means for Buyers & Investors
Watkinsville presents a compelling case for several types of real estate activity right now:
- Primary home buyers have the opportunity to move to a high quality community with very good schools that is a little lower in price than comparable communities in metro Atlanta. The Watkinsville area offers the opportunities of outdoor recreation and local community activities as well as being able to be part of a close knit neighborhoods.
- Investors looking at long-term rentals: Investors looking to purchase for long-term rental can fill the voids in Watkinsville for tenants including: university employees, healthcare professionals and workers, remote employees working from home and other professionals.
- Short-term rental operators will appreciate the opportunity that Athens and Watkinsville present for a wide array of university affiliated functions, as well as Athens festivals and a growing regional tourism market.
- Land buyers and developers are interested in the growing Oconee County in anticipation of even more growth as more infrastructure is added to allow for development of new corridors in the market.
It’s a critical time for many communities, and at the core of each is the market’s place in the community’s overall growth. And, for better or worse, the community’s overall growth in many instances can give or take great sums from the residential real estate market. In Watkinsville, many can easily recognize that the community is currently in a ‘growth phase’ and, as is typical for these phases, things are moving at a fast pace with many individuals investing in the community and its’ growing market. With that said, and as is also typical for communities in growth phases, the entry points to gain access to the current investment opportunities will shut down quickly as the community reaches full maturity. Therefore, now is the time to begin to explore and take advantage of the many current investment opportunities.
Infrastructure & Community Investment Supporting Growth
As Watkinsville continues to grow, it needs infrastructure to support it. Oconee County is attempting to keep up with the growth of Watkinsville. Planning and funding are being put into road construction, the expansion of utilities and the construction of new community facilities. Even the Georgia Department of Transportation is hard at work on several corridor projects within and surrounding Oconee County that will increase mobility and facilitate growth in the region.
However, it is equally important to note that Watkinsville local government is also making attempts to manage the growth and try to maintain the character of the community. For example, in order to make sure that growth occurs in the correct and needed areas, Watkinsville and Oconee County zoning regulations and land use planning initiatives are strictly followed in order to ensure that land is used effectively for needed developments.
Local Retailers, Restaurants, Banks and other Services have been following the ever-growing rooftops in Watkinsville. No longer are Watkinsville residents having to drive to Athens or further for everyday needs. Watkinsville is fast becoming more and more self-sufficient with a growing commercial base to serve the needs of the growing Watkinsville resident.
Looking Ahead
The real estate market across our great state of Georgia has experienced tremendous fluctuation over the past few years, largely in part to growing interest rates and increasing unaffordability of housing across markets. Despite unrelenting growth, real estate and property investments within high-quality growth markets continue to experience appreciation and retain value over longer periods.
The National Association of Realtors have cited secondary markets in and around major employment centers as well as university towns in periods of decline in real estate across the nation. That description applies to Watkinsville, Georgia. Because the Georgia real estate market across the state is declining for the second year in a row, it would be a good time for many real estate professionals based in Atlanta as well as across the state of Georgia to follow the real estate and growth in Oconee County, and in Watkinsville in particular.
Whether you are a buyer searching for a place to call home, a landlord or property manager seeking management or additional resources for your properties or simply a real estate professional, Watkinsville is a community you will want to keep your eye on. Clearly, Watkinsville and Oconee County are on the upswing. And, professionals are moving into the area to join the growing number of residents. For more Atlanta new homes coverage and market updates across Georgia, be sure to explore additional resources from local real estate experts.
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