The Georgia housing market in January 2025 presents a complex landscape characterized by contrasting trends. The Median Sales Price has decreased by 3.6% year-over-year, settling at $359,900. This decline indicates a cooling in the market, contrasting with the Median List Price, which has increased by 5.0% to $375,700. This divergence suggests sellers are optimistic, yet buyers are negotiating lower prices.

Price Per Square Foot metrics further illustrate this trend. The median Price Per Square Foot has risen by 1.9% to $183, while the Median List Price per square foot has increased by 3.2% to $196. This indicates a moderate appreciation in property values, albeit at a slower pace than list prices.

Sales activity has also experienced a downturn. The number of Homes Sold has decreased by 2.2% year-over-year, totaling 7,162 units. Pending Sales have seen a more significant drop of 16.1%, with 9,756 transactions in the pipeline. New Listings have declined by 9.1%, reaching 11,568, suggesting a contraction in market activity.

Conversely, inventory levels have risen by 13.4% to 33,158 homes, contributing to an increase in the Months of Supply, which has surged by 60.0% to 4.6 months. This increase in supply relative to demand indicates a shift towards a more balanced market, potentially favoring buyers.

The Median Days on Market have increased by 15.0% to 67 days, reflecting a slower pace of sales. The average sale to list ratio has slightly decreased by 0.3% to 97.5%, indicating that homes are selling closer to their list prices, but with less competition driving prices above asking.

The percentage of Homes Sold above list price has decreased by 2.9% to 15.8%, while Price Drops have increased by 4.5% to 27.3%. This suggests that sellers are adjusting expectations in response to market conditions. Additionally, the percentage of homes going off the market within two weeks has decreased by 6.7% to 19.6%, further indicating a slowdown in buyer urgency.