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Real Estate Stays Strong in Peachtree Corners
The real estate market in Peachtree Corners continues to hum along in fifth gear through uncharted territory. While realtors said it’s not the hottest zip code in metro Atlanta, it stacks up quite well.
Despite the COVID pandemic — and quite possibly because of it, in part — sales, figures, prices and time-on-market statistics are amazing even veteran realtors. And what is described as a “100% a sellers’ market” shows no immediate signs of a slowdown.
Truth in numbers
In assessing the whys and wherefores, it’s good to start by looking at some numbers. A report from Rocket Homes puts the median price of a Gwinnett County home at $290,956 in February of 2021. That’s up 8% from the same month one year before.
Tightening the focus, Meredith Blinder, a realtor with Maria Licata and Associates, pulled figures in the 30092 zip code showing the median home sales price there is up 47% and the average sales price increasing 28% for the first two months of this year, compared to 2020. The days an average home is on the market is down 74%.
Secondly, consider Peachtree Corners itself. “Our strong schools, parks and a variety of restaurants make it a very desirable place to live,” said Blinder. In addition, she and others said, consider its relative proximity to Atlanta while being far enough out to provide more house for the money and good access to transit routes.
The final layer of icing on the cake: the city has no property tax.
That the city is pretty much built out on single-family homes and has only a modest supply of condos also stokes demand, said professionals. Blinder noted that a new development on East Jones Bridge Road will supply hundreds of units of needed inventory.
Housing stays hot
With a scant housing supply, said realtors, bidding wars have broken out locally, driving homes as much as 10% over the asking prices.
Alan Kaplan of Atlanta Fine Homes | Sotheby’s International Realty said sometimes desirable homes can show 40 times in a weekend and generate as many as 20 offers.
Further solidifying demand have been the outgrowths of COVID. At the outset of the pandemic, many potential sellers were deterred from putting their homes on the market fearing strangers traipsing through their living rooms and, in some cases, deciding to stay put and invest instead. Building activity took a couple of months hiatus as well during the overall downtown. Overall transactions fell steeply.
“People are just wanting to have something settled in their lives in the midst of COVID,” is how Kaplan explained it. “To just be at home,” he said, as opposed to listing their home then worrying about what they themselves will find.
Now, said realtors, some residents are finding that with their lives having changed during the pandemic, they need housing with more usable office space or other adjustments.
In the mix as well are in-town residents looking for more elbow room and better value, millennials aging into homeownership as they establish families, and out-of-towners as Atlanta’s growth support seemingly continues unabated.
Then there are the historically low-interest rates, enabling prospective homeowners to stretch their money farther.
House buying strategies
Real estate professionals said with so many factors driving a lopsided market, buyers can have a number of strategies to choose from, bettering their chances in a competitive bidding market.
More and more buyers are showing up fully equipped with cash, no loan process needed.
“The first 15 years in this business, I never saw a cash purchaser,” said Nancy Minor, who along with partner Laurie Rogers helms the Nancy Minor Team. “Now, it would not be uncommon to have two or three cash buyers a month.” They’re more attractive to sellers because it eliminates the uncertainty of a loan application falling through.
But Blinder notes that those who can’t wave a fistful of dollars can employ tried-and-true strategies helping to level the playing field.
“Part of it is being willing to pay over the appraised value,” she said. “And a lot of the time they are not only getting pre-qualified, but pre-approved for loans, again mitigating uncertainty for the seller.”
“We have to make our terms seem almost like an all-cash offer with a shorter due diligence period and a shorter transaction time,” said realtor Theresa Hunsucker of Engel & Völkers. “It also helps if you go in saying you’re not going to ask for nitpicky things on an inspection report.”
Buyer flexibility also counters for something, she said.
For example: Buyer A isn’t willing to wait on moving in while the seller’s youngsters finish school. Buyer B says, no problem. Score one for Buyer B.
And some are even skipping the appraisal and inspection processes.
Advice for sellers
For Peachtree Corners residents listing their homes, some simple attention to the basics can go a long way, even with their sitting in the catbird seat.
Said Minor, “Sellers’ ability to get the most money from their home will still depend on doing staging, although it’s not as important as it was two or three years ago.
“And you have to get a buyer to your home in the first place, so you still need professional photos,” she added. And, she said, something as simple as an odiferous home can turn off a prospective purchaser.
That’s where having a solid real estate advisor comes in on both sides of a transaction, said professionals, in helping buyers gain a competitive edge and sellers derive maximum profit.
In a healthy market, the hottest areas in Peachtree Corners right now appear to be Peachtree Station and the Amberfield, Linfield and Riverfield neighborhoods, plus other Jim Cowart developments.
That hasn’t changed much recently, as a 2013 article named the “fields” subdivisions as being a hotbed of activity.
Realtors do say the same high-octane atmosphere does apply citywide, which can be an advantage for homeowners who might have trouble moving their property otherwise, say those with synthetic stucco.
Local real estate experts think the market will stay in good shape for this year — if interest rates or unemployment don’t rise markedly.
“I can’t stress strongly enough for people considering selling their homes to do it now while the demand is high,” remarked Kaplan. He’s suggesting that those looking to make a chance sell now, live in rental housing for a time and take time to study and assess.
Even if a downturn occurs, Kaplan said he’s much more confident that homes in the Corners will maintain value or remain less impacted in the event of a weakening economy.
Putting the current situation into perspective, he said, “It’s incredible sellers’ market, but I wouldn’t call it a good overall market because of the lack of inventory for buyers. People need to find homes and not overpay.”
On Friday, May 10, 2024, the City of Peachtree Corners held a ribbon cutting and grand opening ceremony of its new space-themed Tot Lot Playground on Town Green.
Last November, the city began constructing a new tot lot playground for children under six years old that is themed around space exploration. This new play area includes a rocket ship, a moon rover, a crashed UFO and other fun designs. It was also created to be fully accessible, ensuring all children can enjoy it.
During the ribbon-cutting, children and their guardians enjoyed fun activities, including an ice cream truck, bubble lady, balloon animals, face painting and even a visit from Buzz Lightyear.
When Peachtree Corners City Councilman Alex Wright last had a dog, he was only a kid.
Young Alex was devastated when he died and did not want to get another dog because he did not want to endure that trauma again.
As a result, his family has never had a dog, and even though the two youngest of his four children badgered him and his wife endlessly, they always said no.
Then COVID-19 hit. The Wrights’ youngest son, Michael, was committed to convincing his parents to get a dog. He even did a PowerPoint presentation (with music) explaining why he absolutely needed a dog.
“I guess it was from being cooped up during Covid that my wife suggested maybe we should give in. Next thing I know we tell the kids we are going to get a dog,” Councilman Wright wrote in an email.
So, in June 2021, they got their first dog, Murphy, an Australian Labradoodle.
“All of a sudden, we discover this whole dog subculture that we had not really paid attention to before. All the things dogs liked to do, all the stuff you could buy them, all the people we met through walking the dog,” he explained.
In February, Wright and his wife were at Avalon returning a purchase when they came upon a modest-sized dog park. Wright’s wife suggested having something like that at Town Green would be great.
Dog Park Ribbon Cutting photos by George Hunter
“Later that day, I texted the City Manager [Brian Johnson] about the idea, and he really liked it. At the time, the playground (the one that opened in August 2022) was under construction, and we were already discussing other ideas to create activation at the Town Center, so this fit right into that plan,” said Wright.
The assistant City Manager, Seth Yurman, was tasked with the nuts and bolts and worked with a contractor on location and design.
“Can’t say enough about what a great job Seth did. We have definitely had some supply chain delays, which resulted in an opening maybe 9 to 12 months later than originally hoped for, but it is finally open,” he added.
Dog Park Ribbon Cutting photos by George Hunter
A couple more things are still left to do for the project, including installing a large sail cover over the stone entrance area. Construction of the Bone Bar is also on the agenda. This small bar will serve adult and non-adult beverages and likely…you guessed it? Treats for dogs.
The new dog park is situated behind the CineBistro building near the Town Green. The Peachtree Corners Off-Leash Dog Park is approximately 9,000 square feet and is divided into sections for smaller and larger dogs, with natural and artificial turf areas.
Dog Park Ribbon Cutting photos by George Hunter
PTC Dog Park Rules
- The dog park is open from 7 a.m. to 9 p.m.
- The dog park is CLOSED for maintenance every Wednesday from 7 a.m. to 10 a.m.
- Use of the dog park is at your own risk. You are responsible for your dog and any injuries or damage caused by your dog.
- All children under 18 must be accompanied by an adult.
- All dogs must wear a collar with a valid license and have current vaccinations required by law.
- Please call 911 for all emergencies.
- The small dog area is for dogs 30 pounds and under. Dogs over 30 pounds must use the large dog area.
- Dogs must stay on a leash until they are in the fenced-in areas of the dog park and must be off-leash while in the dog park.
- Professional dog trainers may not use the dog park to conduct business.
- No person shall bring more than three dogs at one time.
- Please dispose of your dog’s waste in the receptacles provided. Remind others to do the same.
- Dogs must always be under the control and supervision of their handler.
- If your dog becomes aggressive, please leash the dog and exit the park immediately.
- Gates must be closed after entrance and exit.
- Dogs under six months old and female dogs in heat are not permitted.
- Food (human and dog) and glass containers are not permitted, as are smoking, vaping and drug use.
- Cats and other animals are not permitted.
- Bikes, scooters, skateboards and motorized equipment are not permitted.
- Violation of these rules may result in a ban from the dog park.
To honor and remember Debbie Mason, the first and only first lady of Peachtree Corners, who passed away after a long battle with cancer, a memorial park is being built.
A Peachtree Corners Arts Council subcommittee was formed to plan, develop and execute the park. Debbie Mason Memorial Park committee members include Lynette Howard, Robyn Unger, Bob Ballagh, Dave Huffman, Gay Shook, Sarah Roberts and Pat Bruschini.
“Lynette Howard led us in some brainstorming and creative sessions about what the garden should look like,” said Bruschini. “We had pictures of her backyard. Some of us had been to her backyard. It took a couple of months until we got a handle and feel for what we wanted the garden to be and what we thought [Mason] would want.”
One unique feature will be a Yorkie statue, Mason’s favorite dog, perched on top of a coffee table-like boulder encircled by granite benches. The brochure for the fundraising campaign will feature a photo of Mason and her beloved pet.
After looking at a few possible locations, a tract of land near the city’s botanical garden was chosen.
“The area where the park is going had been semi-developed,” said Buschini. “If you’re standing on the sidewalk with your back to the new dog park or your back to Cinebistro, you’ll see a granite semi-circle wall and steps that come down from Peachtree Corners Circle. We are enhancing that area.”
Everyone involved wanted the park to be near Town Center and accessible to everyone. So, an offshoot of the botanical garden, a property owned by the Downtown Development Authority, made the most sense, Bruschini added.
The park will be connected to Town Center with one entrance off Peachtree Corners Circle across from Davini Court.
“We have a complete plot plan designed by a landscape architect from Pike Nursery. Jennifer Freeman, a Duluth mosaic artist, created a mosaic design of the city logo,” said Bruschini.
The Debbie Mason Memorial Garden will be the city’s first park. Although there are other parks within city limits, this is the only one that will be owned and maintained by the city.
To improve its access, the city is working with the Solis Apartment Complex being built nearby.
The plan is to have an extensive sidewalk connecting to the park. Construction of the park is underway and plant material will go in this fall. There will be a ribbon cutting and dedication shortly after that.
But for now, the committee wants everyone to know that it’s coming and contributions are welcome. Find the wish list for the Debbie Mason Memorial Garden at the end of this article.
The memorial is fitting because Mason really was Peachtree Corners, said Bruschini.
“She was a volunteer extraordinaire,” she said. I met her on the board of the United Peachtree Corners Civic Association, and she headed up the Peachtree Parkway Improvement Project for six years. That’s where she would contact all the businesses along 141 and ask them to make a contribution so that the median strip could be maintained.”
Mason also co-founded the beloved Peachtree Corners Festival alongside Dave Huffman.
In 2008, there was a tour of homes in Peachtree Corners, and the funds raised went to solar lights to light up the sign going into Peachtree Corners. Mason was front and center with that. But she always had time for family, Bruschini said.
“Her son Nick was in drama at Norcross High School, and she was very involved in that. And she worked with the taste of Norcross High School going back, I’ll say, 20 years maybe,” she said.
“She and Mike started the Fox Hill Homeowners Association and she worked with the Peachtree Corners Yes campaign and served on the board of Gwinnett Clean and Beautiful as well as the City Arts Council and also the first City Green committee. This is fitting because she always wanted to make memories in Peachtree Corners,” she explained.
Garden Sponsorship Items
- Mosaic Logo – $10,000
- Mosaic River – (3) $5,000 each
- Bronze Plaque – $3,000
- Arbor – (3) $1,000 each
- Japanese Maple – $800
- Flowerpots full of color – (3) $500 each
- Dogwoods (3) $500 each
- Tea Olives – (6) $400 each
- Yorkie Dog Statue – $300
- Azalea/Hydrangeas (40) – $60 each
Garden Sponsorship Levels
- $1000: Platinum
- $500: Gold
- $250: Silver
- $100: Bronze
- $50: Friends of the Garden
Ways to Donate
Checks are preferred and are payable to:
Peachtree Corners Arts, Inc. Attn: DMMC
PO Box 922469
Peachtree Corners, GA 30092
PTCArts.org/donate
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