2024 Real Estate Market Recap: North Georgia Mountains (Pickens, Gilmer, Fannin, Union, and Towns Counties)

As we close the books on 2024, it’s clear that the North Georgia Mountains real estate market continues to evolve in meaningful ways. While the market isn’t quite the frenzy it was during the 2020–2022 period, opportunities for both buyers and sellers remain strong — just under new conditions.

Here’s a look at the trends and insights based on 2024 data from the Northeast Georgia Mountains MLS:

Residential Market Highlights

• Sales Volume:

  The number of residential properties sold decreased to 2,031 transactions, down from 2,257 in 2023 and significantly lower than the pandemic-driven peak of 2,730 in 2022. This reflects a normalization of activity rather than a sharp decline in demand.

• Pricing:

  Home values continued their steady rise. The average list price for homes in 2024 reached $586,079, while the average sold price closed at $559,864 — both record highs for the region.

• Days on Market (DOM):

  Homes spent an average of 74 days on the market, a slight improvement from 77 days in 2023, but still longer than the ultra-competitive 2022 market, when homes sold in just 51 days on average.

• Sales Price to List Price Ratio:

  Sellers in 2024 received an average of 95.5% of their asking price. This slight dip compared to the 2020–2022 years shows that buyers have a little more negotiating room today, although competition remains healthy.

“While the number of properties sold has decreased from the 2020–2022 highs, overall transaction activity remains healthy compared to pre-pandemic levels. Buyers and sellers continue to stay active in the North Georgia Mountains market.”

Lot and Land Market Highlights

• Sales Volume:

  Land sales followed a similar trend, with 956 lot and land properties sold in 2024 compared to 1,063 in 2023 and 1,389 in 2022.

• Pricing:

  Average list prices for land climbed to $117,452, with the average sold price reaching $106,295, showing that land remains an attractive investment in our region.

• Days on Market:

  There was notable improvement here — land listings averaged 137 days on the market, much faster than 235 days the year before.

• Sales Price to List Price Ratio:

  Land sellers achieved 90.5% of their asking price on average, slightly lower than 2023 but still quite strong historically.

“Homes are still moving relatively quickly, with an average of 74 days on the market. Lot and land properties are also selling faster than previous years, reflecting increased interest in custom builds and investment land.”

Key Takeaways

• Shift from a Seller’s Market:

  While sellers still hold the advantage, buyers today are seeing more flexibility — whether negotiating price reductions or securing better terms.

• Prices Continue to Climb:

  Despite softer activity, both residential and land prices are on an upward trend, supported by steady demand for mountain living and lifestyle properties.

• Buyers Should Act Thoughtfully:

  With homes staying on the market a bit longer and more room for negotiation, strategic buyers can find excellent opportunities — especially before future interest rate movements shift the market again.

• Land Demand Remains Strong:

  With many buyers opting to build custom homes, the lot and land market continues to show strength, particularly in sought-after communities across Pickens, Gilmer, Fannin, Union, and Towns counties.

“Residential property values have shown steady growth over the past decade, even through market shifts. In 2024, the average sold price reached a record high, reinforcing the long-term strength of real estate in our region.”

Thinking about buying, selling, or investing in 2025?

Whether you’re dreaming of a mountain retreat, building a custom home, or making a smart investment, my team and I would love to help guide you every step of the way.

Looking forward to helping you achieve your real estate goals!