Welcome to this month’s real estate market report for the State of Georgia. Sale prices for detached and attached single-family housing are up from one year ago. While there is more inventory available to buyers, sales activity has slowed month to month in 2022. Get caught up with the latest market statistics for Georgia with this helpful report.
Are you ready to buy a home in Georgia today? Start your search here to find the perfect home for you by price, size, location, and more! Our fast home finder tool will get the results you want. Be sure to save your favorite properties you want to tour, then, sign up to be notified when new listings become available so you don’t miss out! Get started today!
If you are thinking of selling your home, the first step to take is to know what your home may be worth. Home values are different from street to street and it is important to find out your property’s true value. Our free home valuation tool will get you started on knowing what your property is worth. Simply enter some basic information and we will provide you a confidential market summary with a suggested list price for your home. Don’t hesitate to find out what your home is worth today!
Give The Kevin Pickles Team a call today at (678) 631-1803 to get started!
Georgia Housing Stats
The average sale price for single-family residential detached homes in Georgia at the end of December 2022 was $452,059, which was up from $418,263 at the end of the previous December.
For the year 2022, the average sale price for single-family detached homes was $453,541, which is up 13% from $402,399 at the end of 2021.
There was a total of 4,243 single-family residential detached homes sold in Georgia during the month of December, this is a year-to-year decrease of 45%.
There was a total of 79,417 single-family residential-detached properties sold in all of 2022, this is a decrease of 17% compared to 2021.
The average sale price for single-family residential attached housing at the end of December was $360,572, which is an increase from $343,009 at the end of December 2022.
The average sale price for all of 2022 for single-family attached homes was $369,204, which is up 14% from $324,809 at the end of 2021.
There were just 998 single-family attached homes sold during December, this is a drop of 43% compared to December 2022.
Total active inventory for single-family detached homes continues to increase with 11,625 active listings at the end of December, this is up 51% from 7,682 active listings at the end of December 2021.
Active inventory levels for single-family attached homes have also increased year to year, up from 1,380 active listings at the end of December 2021, to 2,145 active listings at the end of December 2022.
There is a total of 19,813 active listings for all property types in the State of Georgia at the end of 2022, this is up from 16,236 active listings of all property types at the end of 2021.
What Does This Mean For Buyers?
Buyers who are ready to buy a home in Georgia this year can expect to find a lot more inventory to choose from. Inventory levels for detached and attached housing has increased year to year. However, buyers can also expect to see higher prices for detached and attached housing. Both types of housing have experienced approximately the same amount of increase in prices.
Buyers should have financing in place and be ready to act when a property is found. There is competition for homes available and buyers who wait may find their favorite property no longer available, or it is no longer affordable.
If you are thinking of buying a home in Georgia, give us a call and we will put our expertise to work for you!
What Does This Mean For Sellers?
While there has been an increase in inventory of housing in Georgia during 2022, there has been a demand for homes and sellers are still enjoying higher than average sale prices. While there is has been a drop in sales, this is more of increased inventory hitting the market this year compared to one year ago. Buyers from out of state locales look at Georgia as a favorable market to relocate to and this trend should continue into 2023.
Sellers should be prepared for a slight slowdown in buying activity until the spring buying season begins. However, now is the perfect time to get your house ready to be listed. We are experts when it comes to adding extra value to homes with simple fixes before listing your property. If you are thinking of selling your home, give us a call today!
We help buyers and sellers every day accomplish their goals. Our professional and experienced team of realtors is here and ready to help. Give us a call today!
Cobb County Homes for Sale
Here are the most recent home listings just added to the database in the median sale price range for Cobb County – all homes here are priced at $452,059 or less.