July Market Report Shows Signs of “Balance”

GaMLS, That is Georgia MLS (we have two of them here in the Atlanta area, the other is FMLS – First Multiple Listing Service) has reported on July, and the crazy Seller’s market is sliding towards a balance for Buyer and Sellers.

The pace of home sales across the Atlanta metro eased in July, as buyers took a step back amid a growing supply of homes and expectations for possible interest-rate cuts later this year, according to Georgia MLS.

Home sales totaled 5,147 transactions — down 8% from June and 4.5% compared to July 2024, based on the 12-county Housing Market Snapshot from GAMLS. Sales volume reached $2.61 billion, marking an 11.3% decline month over month and a 5.9% dip year over year.

“The market is transitioning from a phase of rapid growth to one of slower, more measured activity,” GAMLS noted. “Should interest rates drop, we could see a surge in buyer activity before the end of the year. For now, conditions are more balanced than competitive.”

The median sales price in July held steady from June at $415,000, but was down 0.7% from $417,950 a year earlier.

New listings came in at 9,360 — a 2.3% decrease from the previous month, yet an 8.4% increase compared to last year. Active listings in July stood at 22,671, up 0.4% month over month and a notable 32.7% higher year over year.

“Higher inventory is giving buyers the ability to shop at a more deliberate pace,” GAMLS reported. “At the same time, elevated mortgage rates are keeping some buyers on the sidelines as they wait to see if the Federal Reserve will lower rates later this year.

“Even a quarter- to half-point drop could trigger a late-year bump in sales activity, though rates aren’t expected to dip below 6% anytime soon. Broader economic uncertainty, including tariff concerns, is also influencing buyer decisions.”

As I always say, and will say, real estate is location, location, location. So there can be pockets in the Atlanta area that are doing better, and pockets that are not. In the condo world, Building A can be across the street from Building B, yet their sales activity and prices can be very different.

If you want to have a more specific look at the market where you are, you can set up a listings alert on our website for your neighborhood or building.. Then you will get notified of any new listings, as well as homes that go Under Contract and are SOLD!  If you need help with this, just let me know and I’ll be happy to set it up for you!