Is It a Buyer's Market?

Yes, well sort of. Compared to the scorching sellers' market of the last several years, it is a good time to purchase real estate. Buyers have a chance to negotiate. Sellers are conceding on price as well as providing credits and incentives to buyers. Houses are staying on the market about a week longer than last year according to the Georgia Multiple Listing Service (GAMLS).  Despite all of this, sales prices have slightly increased, between three and six percent, year-over-year. New listings have been down six percent for three straight months. Closings and pending sales have been mostly down in 2025, except for a significant increase in the summer months.

The real estate market is moving towards the buyer's side but not there yet. Mortgage rates may be part of that reason. On the day, I am writing this the rates sit around 6.26% (FreddieMac). Whether it is realistic or not, many potential buyers are sitting on the sidelines waiting on rates to drop further. Historically, 6.26% is a good mortgage rate. Buyers and sellers who have rates around three percent from the last few years, may never see rates that low again.

The new construction area of the market is an attractive sector for buyers right now. Many builders and developers are hesitant to take on large new developments as a significant amount of their new construction product is not selling. Because of this, builders and their preferred lenders are offering substantial incentives for buyers. One local builder and their preferred lender was offering up to $28,000 in incentives for a development in Moreland. This is huge for buyers who need assistance with downpayment and/or closing costs. Other builders are offering incentives like mortgage-rate buy downs and including appliances and blinds with the sale of the home.

The local market continues to have many sellers that are defined as estates. The seller may be deceased or in sort of assisted living care without sound cognitive abilities. In these the situations their house is in estate being handled by someone like an executor or administrator of the estate. With estates, the seller is typically motivated to sell the home as they normally have no interest in keeping the home and all its expenses. This is another attractive sector of the real estate market for buyer. There is usually room to negotiate on items like sales price and components of the house that may need attention like the roof or HVAC systems. Estates are a sad but important part of the real estate market and typically a good opportunity for a buyer.