In 2024, the greater metro Atlanta real estate market experienced modest growth, with home prices increasing by approximately 4.9% year-over-year, reaching a median price of $420,000. Homes typically remained on the market for about 57 days before going under contract, indicating a relatively balanced market compared the tight, competitive market of recent years.
Looking ahead to 2025, experts forecasts suggest a more dynamic market:
Home Prices: Realtor.com projects a 10% increase in home prices for the Atlanta metro area.
Home Sales: A 15% rise in the number of home sales is anticipated, indicating heightened market activity and more inventory. Realtor.com also states that in the Atlanta area, the projected year-over-year increase in existing-home sales in 2025 should be north of +15.1%. While over at the National Association of Realtors (N.A.R.) Chief Economist, Lawrence Yun, states the national average of home sales will increase roughly a 10% in 2025, which further cements that the metro Atlanta area is a top performing market. (Note that Realtor.com and NAR are associated in name only.)
Mortgage Rates: The Mortgage Bankers Association forecasts that 30-year fixed mortgage rates will average 6.3% in the fourth quarter of 2025, slightly lower than the 6.6% expected at the end of 2024. Similarly, Realtor.com projects that mortgage rates will lower to 6.3% during the majority of the first part of the year and in later months it will drop slightly lower. In short, rates are going lower... just not to the level that every buyer hoped for.
Atlanta Area News
Alpharetta & Sandy Springs come in together at #9 out of 10 for Top Housing Markets according to Realtor.com
Atlanta comes in at #14 In Top 25 Cities Where Home Prices Are Set To Soar (which are Exclusively In The Sunbelt)
National Association Of Realtors Forecast for 2025
Local Trends On The Northside
The average sales price and price appreciation for cities on the northside of the metro area:
Norcross = Avg Sales Price $375,614 with annual price increase of +4.1%
Smyrna = Avg Sales Price $516,480 with annual price increase of +6.1%
Woodstock = Avg Sales Price $524,978 with annual price increase of +7.5%
Marietta = Avg Sales Price $556,879 with annual price increase of +6.7%
Duluth = Avg Sales Price $607,440 with annual price increase of +12.3%
Cumming = Avg Sales Price $657,238 with annual price increase of +7.6%
Roswell = Avg Sales Price $731,994 with annual price increase of +11%
Sandy Sprgs = Avg Sales Price $820,250 with annual price increase of +9.2%
Alpharetta = Avg Sales Price $827,380 with annual price increase of +8.1%
Johns Creek = Avg Sales Price $914,876 with annual price increase of +11%
(* Includes all property types (SFH, condos, and multi-family) in greater Atlanta metro area with a 12-month rolling average as of 11/2024 Per InfoSparks/FMLS)
Conclusion
In conclusion, the metro Atlanta real estate market is poised for significant growth in 2025, with home prices projected to rise north of 15% and sales volumes by 10% (in certain metro area markets will be higher), signaling heightened market activity.
While mortgage rates are expected to decline modestly, they will likely remain in the low 6% range, but not going below 6%, offering only slight relief to buyers.
On the northside, cities such as Duluth, Roswell, and Johns Creek lead in price appreciation, underscoring very strong demand in these areas. But, the metro area of Atlanta continues to be one of top performing markets in the country for real estate.
Overall, 2025 is shaping up to be a dynamic year, more so than the modest gains found in 2024.
-Tom Andre
GREATER ATLANTA AREA - Year-To-Date Activity - All property types
