Posts from March 2023
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Local Real Estate Market Update
2023 is off to an interesting start. While national headlines and media outlets report and forecast doom and gloom, the Coweta County real estate market is holding strong. Residential real estate prices are practically unchanged while listing inventory and the number of transactions decreased significantly.
According to the Georgia Multiple Listing Service (GAMLS), the number of homes for sale was down 15% in January and 20% in February year-over-year. Pending sales (properties under contract) were down 28% in both January and February. Closings were down 48% in January and 34% in February.
All of this sounds bad but there are several positives. Realtors are seeing a healthier market in 2023. While it is still a seller's market, we are seeing less multiple offer situations and buyers have a greater chance of securing a home. Active listings (homes for sale) were up 36% in January and 33% in February. Buyers have a much better selection of propertie...