Georgia
Housing Market
The landscape of the housing market in Georgia constantly evolves with shifting home prices and demand. Houzeo’s housing market report tracks these changes in supply and demand across the state of Georgia. Our data offers real-time insights to help you make informed decisions.
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MigrationGeorgia Housing Market Overview
House prices in Georgia show a 2.3% YoY growth as of January 2025. This growth in home prices indicates the strength of the housing market. Right now, the median home price is $359,600. Additionally, the number of Georgia homes for sale is up by 11% YoY.
The median days on the market also indicate the market's competitiveness. Homes in Georgia now spend 67 days on the market before going under contract. This number is up by 15 days YoY, which is higher than expectations. It indicates lower demand and less competition for homes in the current housing market in Georgia.
What Does It Mean for Home Buyers and Sellers?
The median days on the market also indicate the market's competitiveness. Homes in Georgia now spend 67 days on the market before going under contract. This number is up by 15 days YoY, which is higher than expectations. It indicates lower demand and less competition for homes in the current housing market in Georgia.
What Does It Mean for Home Buyers and Sellers?
- If You’re a Buyer: You get more negotiation power due to the low demand and increased median days on the market. Whether you are looking for a condo in Atlanta or a single-family home in Macon, your dream Georgia home is within reach. However, the current mortgage rates of nearly 7% can squeeze buying power.
- If You’re a Seller: You can still make profits if you sell before prices decline. With an increase in the number of homes sold, you must be ready to offer concessions. This will attract more potential buyers to your property.
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Georgia Housing Supply
The number of Georgia houses for sale is growing with the demand of people moving to the state. Georgia is one of the most moved-to states in 2024, with living expenses 10% lower than the national average. The housing inventory has increased by 11% YoY in January 2025 to serve this demand. On the other hand, the Georgia real estate market is currently at 5 months of supply, which leans slightly towards sellers.
What Does It Mean for Home Buyers and Sellers?
What Does It Mean for Home Buyers and Sellers?
- If You’re a Buyer: You have an advantage with the increased number of homes for sale. The rise in inventory will potentially meet demand and stabilize house prices in Georgia. However, 5 months of supply leans more toward a seller’s market. It means Georgia home buyers could face some competition.
- If You’re a Seller: You must act fast and sell your home before more supply hits the Georgia real estate market. Rising inventory could lower demand, and lead to fewer offers from buyers. To attract buyers, focus on staging and marketing your home on the MLS.
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Georgia Housing Demand
The percentage of homes selling above the list price is a key indicator of housing demand. When more homes sell for more than the list price, it shows strong buyer competition and high demand. A decline suggests more supply.
15.8% of homes in Georgia sold above the list price in January 2025. But the percentage of homes selling above list price has gone down by 2.9 points. Additionally, 26.7% of listings saw a price drop at a growing rate of 3.9 points YoY. Besides this, the 97.5% sale-to-list price suggests fewer bidding wars and more price flexibility for buyers.
What Does It Mean for Home Buyers and Sellers?
15.8% of homes in Georgia sold above the list price in January 2025. But the percentage of homes selling above list price has gone down by 2.9 points. Additionally, 26.7% of listings saw a price drop at a growing rate of 3.9 points YoY. Besides this, the 97.5% sale-to-list price suggests fewer bidding wars and more price flexibility for buyers.
What Does It Mean for Home Buyers and Sellers?
- If You’re a Buyer: You have a lot of factors in your favor, from the increasing inventory to the slow growth in home prices. You can negotiate better with sellers as Georgia homes take more days to go under contract.
- If You’re a Seller: In the current Georgia housing market, you’re in luck because the Peach State is one of the most moved-to states in the US. But you may need to be patient as only 15.8% of homes are selling above the list price. You may experience a hot housing market during spring and summer when buyers pour in and demand spikes.
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Seller’s Market
Buyer: Supply exceeds demand, and homes stay listed on the market for longer, pushing sellers to offer concessions.
Is It a Buyer’s or Seller’s Market in Georgia?
As of January 2025, the Georgia housing market favors home buyers due to increased inventory and extended days on the market. Buyers have more leverage in the Georgia real estate market with housing supply on the rise, and homes taking longer to go under contract. The sale-to-list price ratio of 97.5% indicates price flexibility for buyers.
However, higher mortgage rates (between 6.5% and 7%) may reduce buying power. In contrast, a rise in new active home listings may attract home shoppers. Bottom line: market trends in Georgia vary by region and should be assessed locally.
Georgia Housing Market Insights
The housing market in Georgia has seen significant shifts in recent years. As per Census data, the state’s population grew by more than 11% last year. It should come as no surprise that the number of homes sold also increased massively. Housing demand is surging and so is supply. However, the increase in mortgage rates may cause headwinds for real estate in Georgia. Looking ahead, Georgia housing market predictions for 2025 suggest continued growth in demand.
On the other hand, some cities like Atlanta and Macon show a contrast in housing trends. Their markets have cooled due to low competition. Homes in such cities spend an average of 60-85 days on the market, and 27% sell below their list price. Overall, Georgia’s housing market currently favors home buyers. If you want to buy a property in Georgia, take into account local area trends and moving expenses.
On the other hand, some cities like Atlanta and Macon show a contrast in housing trends. Their markets have cooled due to low competition. Homes in such cities spend an average of 60-85 days on the market, and 27% sell below their list price. Overall, Georgia’s housing market currently favors home buyers. If you want to buy a property in Georgia, take into account local area trends and moving expenses.
Nationwide Migration Trends
Cost of living, climate, and job markets largely drive migration patterns across the US. The Peach State has experienced rapid migration growth in the last decade. Atlanta and Gainesville are among the hottest real estate markets in Georgia. Home shoppers from New York, Washington, and Los Angeles topped the list of people who sought to move to Atlanta.
Additionally, 77% of Atlanta homebuyers looked for properties within the Atlanta metropolitan area. Some Georgia properties also receive multiple offers from buyers, resulting in bidding wars.
The state’s lower income tax and considerable job growth have contributed to a migration surge from California, Chicago, and the East Coast. Professionals and families alike tend to move to Georgia from more expensive areas like San Francisco, Los Angeles, and Washington.
Additionally, 77% of Atlanta homebuyers looked for properties within the Atlanta metropolitan area. Some Georgia properties also receive multiple offers from buyers, resulting in bidding wars.
The state’s lower income tax and considerable job growth have contributed to a migration surge from California, Chicago, and the East Coast. Professionals and families alike tend to move to Georgia from more expensive areas like San Francisco, Los Angeles, and Washington.
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Frequently Asked Questions
How is the housing market in Georgia?
The state’s housing market landscape is robust despite increasing mortgage rates. Homes for sale in Georgia are in high demand. Statewide prices rose 2.3% YoY in January 2025. Markets like Atlanta and Gainesville saw a significant boom in home buyers coming from other metro cities.
Which city has the cheapest housing market in Georgia?
If you choose to move to Georgia from expensive places like New York or California, you will pay at least 41% less to buy or rent a house. Americus ($157k) and Macon ($179k) have the lowest median home sale prices, and are among the most affordable housing markets in GA. Read on to know more about the cheapest places to live in Georgia.
Should I wait for some time before buying houses in Georgia?
As a buyer, you can get a fair deal with stable prices and a growing inventory of Georgia homes. The average cost of a house in Georgia is currently $359,600. If you’re buying a house in Georgia, first get a mortgage pre-approval. You will also need to budget for a down payment of up to 10%.
How can I list my home for sale in Georgia?
You can list your home for sale with a Flat Fee MLS Georgia listing service. High-tech MLS listing sites like Houzeo automatically assign the right MLS paperwork based on your location. 🚀
What is the average mortgage rate for buyers in Georgia?
The average mortgage rate for buyers in the Georgia real estate market fluctuates between 6% and 6.95%. When you apply for a mortgage, make sure to check your credit score and the current mortgage rates with lenders.
How does Georgia's housing market compare to the national market?
Georgia's housing market is outperforming the national market, with more demand due to relocation from other states and favorable tax conditions. The cost of living in Georgia is about 10% lower than the US average, which attracts more buyers to the state.
Is now a good time to buy or sell a home in Georgia?
It depends on the current trends in housing prices and inventory in your city. Sellers can benefit from high demand and rising prices. However, if mortgage rates are stable with more than 6 months of supply, it’s the best time to buy a house in Georgia.
When will housing prices drop in Georgia?
Average home prices in Georgia have consistently risen over the past years, driven by high demand and low inventory. Prices show an annual increase of 2.3%, with some regions seeing double-digit percentage growth. Ihis trend is proejected continue for the near future. You can check your home’s fair market value with our free home value estimator to know where you stand.
When will the housing market crash in Georgia?
As per Georgia housing market forecasts, it’s implausible that the market will crash. Prices are projected to experience sustained growth through 2025. Home prices in Georgia will grow along with the housing demand.
What is the Georgia housing market forecast for 2025?
The housing market in Georgia is expected to stabilize in 2025, with slower price growth and rising mortgage rates. Housing inventory will increase enough to stabilize price growth. Supply is also expected to meet buyer demand.
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