Athens Real Estate Market Report Q2 2021
“We are seeing the market balance and settle a bit. But the Athens real estate market is still exceptionally strong.”
– Sarah Ellis, Broker, Corcoran Classic Living
Everyone is still asking, “How’s the Athens real estate market?” It’s been an interesting 12 months in real estate to say the least. We are still experiencing and enjoying a robust market. While the first two quarters felt quite frenzied, we are sensing that the third and fourth quarter may become a bit more balanced. The strong economy plus millennials nearing their peak homebuying years, combined with low mortgage rates and an increase work-from-home opportunity, all have fueled a surge in housing demand only to be met with a shortage of available housing in 2021.
The market does still seem to be favoring sellers. But we appear to be seeing the tipping point where prices have risen to a point that buyers are backing off a bit and sales are slowing down. According to Realtor.com, the median national home price for active listings in June was $385k, a 12.7% increase from the previous year. On a local level, Georgia Association of REALTORS® (GAR) reported a 22% increase in the median sales price to $304k. According to The National Association of REALTORS® (NAR), pending home sales reached their highest level in May 2021 since 2005. This is a forward-indicator of the housing market health because these pending sales become closed sales in a couple of months.
Read the full report HERE.
Contact a Corcoran Classic Living agent to learn more or to request a complimentary copy of our Quarterly Market Report.