Posts from July 26th, 2023
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26
How Is the Local Real Estate Market?
The local real estate market is cooling off. Properties are still being listed and sold, but the activity and sales numbers have dropped dramatically. I have noticed the decline in showing activity with new listings this summer. We are not seeing the number of showings that we saw earlier in the year and the years preceding that. In fact, sales in Coweta County from June 2022 to June 2023 were down over 18 percent per Georgia Multiple Listing Service (GAMLS). A seasonal and summer lull in real estate is common as people often go on vacations, but the lull seems more pronounced this summer.
Listing inventory is still a problem as well. There are not many options for buyers as they go looking for a home. A low supply of listings has kept real estate prices steady even though buyer demand has tailed off. New listings were down over 20 percent, from June 2022 to June 2023 per GAMLS. At the time that I am writing this, there are only 416 homes for sale in Coweta County per GAMLS....