02/20/2025
GEORGIA HOUSING MARKET
2024 ANNUAL REPORT
The 2024 Georgia Housing Market Annual Report reveals a year marked by modest gains for the state’s housing market, though continued challenges are evident.
The Median Sales Price climbed by three percent to $360,000, while the Average Sales Price saw a slightly higher increase of five percent, reaching $439,492. Columbus and Savannah posted the largest increases in Median prices year over year, with Columbus posting an 8.4 percent increase ($195,000) and Savannah posting a 6.8 percent increase ($363,000).
Both Pending and Closed Sales were flat, posting only a half percent and one-third percent increase respectively.
New Listings hit a five-year high, reaching 193,260, which was an increase of 16 percent year over year. Inventory levels averaged 3.5 months for New Construction and 3.4 months for Existing Homes. While this is an improvement over recent years, low inventory remains a challenge for buyers statewide.
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