Georgia Market Report - August 2024
Published | Posted by Derrick Dahl
- What is the housing market like right now?
In August 2024, home prices in Georgia were up 0.4% compared to last year, selling for a median price of $372,300. On average, the number of homes sold was down 7.6% year over year and there were 10,980 homes sold in August this year, down 11,879 homes sold in August last year. The median days on the market was 43 days, up 13 year over year.
- Are there enough homes for sale to meet buyer demand?
There were 52,028 homes for sale in Georgia, up 4.6% year over year. The number of newly listed homes was 14,441 and down 14.0% year over year. The average months of supply is 3 months, up 0 year over year.
- How competitive is the market?
In August 2024, 19.8% of homes in Georgia sold above list price, down 7.7 points year over year. 33.2% of homes had price drops, up from 27.0% of homes in August last year. There was a 97.9% sale-to-list price, down 0.75% year over year.
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