Athens Real Estate Market Update: 2024 IN Review and Trends Moving into 2025

Hi, I’m Scott Talley, Owner and Broker at 5Market Realty. If you follow our YouTube channel or visit our website with some regularity, you know we’re all about providing insightful market updates and showcasing the latest listings in the Athens and Oconee County area.

Today, we’re diving into what 2024 has brought so far—and what we expect heading into 2025.

2024: A Healthier Market in Athens & Oconee

Compared to a rocky 2023, the Athens-Clarke and Oconee County markets are showing promising signs of recovery:

• New Listings: Up 11% year-over-year, with over 2,100 homes listed—approaching 2022 levels before interest rate hikes.

• Days on Market: Averaging 45 days, giving buyers more time to make decisions.

• Average Price: Holding strong at $487K across both counties.

• Home Sales: Increased nearly 10%, totaling 1,624 homes sold.

While national headlines reported the lowest home sales since the 1990s, our local market bucked the trend with more activity and continued demand.

Athens vs. Oconee: A Tale of Two Markets

Though we often report on them together, Athens-Clarke and Oconee County are vastly different:

• Listings: Athens had 1,468 new listings; Oconee had just 646.

• Days on Market: 43 in Athens vs. 51 in Oconee.

• Average Sales Price: $421K in Athens vs. $644K in Oconee.

• Total Sales: 1,143 in Athens; 482 in Oconee.

While their stats differ, both markets remain closely connected in buyer and seller behavior.

Month Over Month Trends: Listings & Sales Stabilizing

Looking at data from the past three years:

• 2024 Started Strong: Listings in early 2024 (green line) show a more stable trend compared to the volatility of 2022 and 2023.

• Summer Dip: Sales slowed slightly mid-year, but still outperformed 2023.

• Inventory Rebounding: With 342 active listings in January 2024, we may hit 500+ by spring—a healthy sign of market balance.

What’s Ahead for 2025?

While every market is different, experts agree inventory will rise in 2025. Here’s what we’re watching:

• Mortgage Rates: Most forecasts suggest rates will hover above 6%, with no major drops expected.

• Buyer Psychology: Today’s rates feel high because we’ve been spoiled by historically low rates for 20 years—even though 6.9% is moderate by long-term standards.

• Inventory Growth: National inventory is expected to grow 12–15% in 2025, continuing a trend we’re already seeing locally.

Local Buyers Still Active

Despite the changes, activity remains strong in Athens:

• UGA parents are buying condos

• Investors are returning to the market

• Local buyers are adjusting to the new normal

Always Here To Talk Real Estate With You!

We’re excited about where the market’s heading and ready to help you navigate it—whether you’re buying, selling, or just keeping an eye on the numbers.

📬 Have questions or want to talk real estate? Please Contact Us today!

And if you haven’t already—📲 Subscribe to our YouTube channel @AthensGAhomes to stay updated on the Athens real estate market.