Georgia Metro Ranked Among The Best 2024 House Markets
Realtor.com has published their Top Housing Markets for 2024 list and a Georgia metro area is listed in the top 10. In fact, its the only neighborhood in the state to be named.
Overall, the projection is for home prices to decrease a bit significantly as mortgage rates improve. This would be certainly be significant in helping the market become more favorable and bouncing back. “Sales growth is the main propellant for top housing markets in 2024, with price growth also contributing, but generally to a lesser degree,” Realtor.com states.
2024 U.S. Housing Market Overview
Using sales growth as a key indicator, Realtor.com analyzed various data points. As a result, this effort enabled them to determine the top 10 areas that are likely to be top housing markets in 2024.
“Eight metros are predicted to break double-digit sales growth in 2024, and they are predominantly expensive markets in the West which saw large sales declines in 2023,” Realtor.com continued.
Augusta Ranked #21
In this evaluation, Augusta faired quite well, finishing in the top 25. Specifically in the “Combined 2024 Existing Home Sales and Price Growth category.” The Augusta, Georgia region has a projected increase of 7.6% among relative housing markets. Rocket Homes has reported the median home sale price in the region is $202,000. Surprisingly, homes still stay on the market for an average of 74 days. Three-bedroom properties are the most common styles on the market.
In addition, Redfin reported, “In October 2023, Augusta-Richmond County home prices were down 13.0% compared to last year.” They also found Atlanta homebuyers searched to move into Augusta-Richmond County more than any other area.
If you are thinking of moving out west, Realtor.com explained that four out of the top six 2024 housing markets are in California. Oxnard and San Diego both produced very favorable forecasts. Some remaining states and metro within the top 10 include Rochester, New York and Springfield, Massachusetts. Toledo, Ohio, ranked as the number one housing market for 2024. Home sale counts are expected to increase by 14% in Toledo.