Top Real Estate Agents in Georgia

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2023 Georgia Housing Market Summary

Georgia started 2023 with a total of 20,188 single-family homes on the market, with a median home price of $385,000 and an average price per square foot of $216. By the end of the year, inventory had increased to 22,144 homes on the market (+9%), with a median home price of $399,900 (+3%) and an average price per square foot of $219 (+1%).

At the start of 2023, the median days on market (DOM) was 70 days – by the end of the year, median DOM had decreased to 63 days.

Georgia started the year with 34% of homes taking a price cut (for reference, 35% is the national average for price reductions in a ‘normal’ year.) By the end of the year, about 31% of Georgia homes for sale had taken a price cut.

Finally, Altos’ proprietary Market Action Index (MAI) shows that Georgia started 2023 as a strong seller’s market, with an MAI score of 54; by the end of the year, the MAI had dropped to 34 – a balanced buyer and seller’s market.

This market summary is powered by Altos Research – click here to run a free report for your area.

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