December 2024 Real Estate Market Update for Peachtree City, GA

As we wrap up 2024, let’s take a look at how the real estate market in Peachtree City, GA, is shaping up this December. Whether you’re thinking of buying, selling, or just keeping tabs on the market, here’s what’s happening in our community.

What’s Going On in the Market?

Home Prices

Good news for homeowners—home prices in Peachtree City are on the rise! The median home price has increased by 4.2% compared to last year. It’s a steady climb that shows just how much people love living here, with our beautiful neighborhoods, great schools, and easy access to Atlanta.

Inventory Levels

It’s not surprising that inventory has dipped a bit this month. December is usually a slower time for listings since many people wait until after the holidays to put their homes on the market. Right now, inventory is down about 7% from November, so buyers may face a bit more competition.

Buyer Demand

Even with higher mortgage rates, buyers are still eager to call Peachtree City home. Families, first-time buyers, and relocators are actively searching, many wanting to settle in before the new year. Our city’s charm and lifestyle keep attracting people, and it’s easy to see why.

What About Mortgage Rates?

Mortgage rates have been a hot topic all year, and they’re still a factor. Mortgage rates in Peachtree City are currently averaging around 7%, but have recently dropped to approximately 6.7%. While that is still higher than some would like, buyers are getting creative with financing options like adjustable-rate mortgages or negotiating for seller concessions to make their budgets work.

Advice for Sellers

If you’re thinking about selling, December could actually be a great time! Well-kept homes in sought-after neighborhoods are getting multiple offers, sometimes within just a few days. To make the most of this market:

1. Show Off the Season: Highlight cozy features like a fireplace or energy-efficient heating to appeal to winter buyers.
2. Price It Right: Competitive pricing is key to attracting interest quickly.
3. Be Open to Incentives: Offering perks like covering closing costs can make a big difference for buyers navigating higher mortgage rates.

Tips for Buyers

If you’re on the hunt for a new home, here are a few tips to help you succeed:

1. Be Ready to Move Fast: With fewer homes on the market, competition can be tough, so act quickly when you find a home you love.
2. Get Pre-Approved: This step shows sellers you’re serious and ready to go.
3. Team Up with a Local Agent: A knowledgeable agent can help you find the right home and navigate this competitive market.

Looking Ahead

As we head into 2025, Peachtree City’s real estate market looks promising. Experts predict steady growth in home values and continued strong demand. Our community’s vibrant atmosphere and excellent amenities make it a great place to live, and that’s not changing anytime soon.

If you’re planning to make a move or just have questions about the market, Realty Bureau is here for you. Let us help you navigate the process with confidence and ease.

Thinking about your next steps?  Reach out to Realty Bureau for friendly, expert advice tailored to your needs. Let’s make your real estate goals a reality!