Here at 5Market Realty, we create videos about the current Athens area real estate market. In this video Broker, Owner Scott Talley discusses the early trends appearing in the Athens, GA Real estate market in 2025
Hello everyone! If you’ve been following our updates on our YouTube channel or our website, you know I’m Scott Talley, the owner and broker at Five Market Realty in Athens, Georgia. We strive to keep our clients and followers informed about the real estate market, whether you’re looking to buy now or just want to stay updated.
As we dive into the February market update, it’s important to note that we are only 45 days into the year, so our analysis will primarily focus on January’s data. This year, we’ve seen a significant 23% decrease in new listings compared to last year, with 139 new listings recorded in January. The average days on the market for homes is currently a robust 72 days, which is a notable figure when we compare it to the previous three years.
Despite the decrease in new listings, home prices remain stubbornly high. In fact, we are seeing a 20% increase in total homes sold compared to last year. To put this in perspective, January 2023 was a challenging time for the market, often considered the bottom in terms of activity. However, this January shows almost a 27% increase in new listings compared to two years ago, along with a nearly 14% rise in average sold prices.
Increases in Home Inventory
Looking at the monthly inventory of homes, we have 62 more active listings than last February. This trend indicates a gradual increase in inventory, which is crucial for balancing the market. The next 60 to 90 days will be pivotal in determining the direction of the market as we head into 2025.
When analyzing the average days on the market, it’s clear that higher-priced homes tend to stay on the market longer. For instance, homes in the desirable Five Points area are averaging around 90 days on the market, while Oconee County homes, with an average price of $640,000, are around 75 days. In contrast, East Athens, which offers more affordable options, has homes selling in under 60 days.
As we look ahead, it’s essential for both buyers and sellers to be aware of these market dynamics. Sellers in the high-end market need to be particularly mindful of pricing, as buyers currently have less power in that segment. For example, I recently spoke with a seller whose home was overpriced by about $300,000, which significantly impacted their ability to attract buyers.
Buyers Catch A Break
In terms of home price appreciation, data from Case-Shiller indicates that while national trends show minimal growth, Athens has experienced less than 10% appreciation. This slower growth is beneficial for buyers, especially as many are adjusting to the new norm of higher interest rates and inflation.
Interestingly, a record percentage of Americans are planning to buy homes in the next 12 months, with a 15% increase from last year. This suggests that despite the challenges, many are developing plans to enter the market.
Get Your Ducks In a Row – Contact Me With Any Questions!
As we approach the peak of the market, which typically occurs around May, it’s crucial to stay informed and prepared. If you’re considering buying or selling, now is the time to strategize. Thank you for joining me for this update, and I wish you a warm and happy February!