Georgia Housing Market Analysis: The Last 16 Quarters in Data

Georgia home prices rose 14.9% over the 16 quarters from Q3 2022 through Q2 2026, according to the FHFA All-Transactions House Price Index for Georgia. Annual growth has slowed to 1.9% as of Q2 2026, the smallest year over year gain anywhere in that window. Meanwhile, Realtor.com median listing price data retrieved through FRED puts the typical Georgia asking price at $398,516, and the Realtor.com active listing count shows 49,297 homes on the market, up 80.7% over the same 16 quarters. So prices are still inching upward while the number of homes competing for buyers has grown dramatically. That tension defines the current Georgia market, and the rest of this page walks through it one quarter at a time.

How Georgia Home Prices Have Moved

The FHFA index for Georgia stood at 576.3 in Q3 2022 and finished Q2 2026 at 662.1, the 14.9% climb mentioned above. The path matters more than the endpoints. When this window opens in Q3 2022, Georgia was still running hot: prices were up 21.2% year over year, the fastest reading in all 16 quarters. Then the brakes came on. Growth dropped to 15.3% in Q4 2022, 10.8% in Q1 2023, and 6.6% by Q2 2023. That deceleration tracked the surge in borrowing costs, as the Freddie Mac 30-year fixed mortgage average jumped from 5.62% in Q3 2022 to 6.66% one quarter later, then peaked at 7.3% in Q4 2023.

Here is what Georgia never did: print a negative year over year quarter. The closest thing to a decline was a small dip in the index itself, from 576.3 in Q3 2022 to 575.9 in Q4 2022, the only quarter over quarter drop in the whole window. After that the index rose every single quarter.

The middle stretch, from mid 2023 through the end of 2024, was a steady grind. Annual growth held in a narrow band: 5.3% in Q3 2023, 5.7% in Q4 2023, 6.4% in Q1 2024, then 5.3%, 4.9%, and 4.8% through the rest of 2024. Since then the slowdown has been unbroken. Growth came in at 4.1% in Q1 2025, 3.3% in Q2, 2.8% in Q3, 3.0% in Q4, then 2.7% in Q1 2026 and 1.9% in Q2 2026. Prices keep rising, but each year the increase gets thinner.

What Homes Are Listed For

Asking prices tell a flatter story than the price index does. The median listing price in Georgia peaked at $401,600 back in Q3 2023 and sat at $398,516 in Q2 2026, still below that three year old high. For four straight years the median has bounced inside a narrow band, from a low of $382,023 in Q1 2023 to that $401,600 peak.

The pattern inside the band is seasonal. Winter quarters dip: $384,933 in Q4 2022, $382,023 in Q1 2023, $383,650 in Q1 2025, $384,423 in Q1 2026. Spring and summer quarters recover toward $400,000: $401,333 in Q2 2023, $398,767 in Q2 2025, $398,516 in Q2 2026. On a year over year basis the median actually spent most of 2024 slightly negative, at -1.0% in Q2, -1.2% in Q3, and -1.0% in Q4, and it has hovered within a fraction of a percent of flat ever since, reading -0.1% in Q2 2026.

That sits oddly next to a price index that climbed 14.9% over the same stretch, and the gap is worth understanding. The FHFA index tracks repeat transactions on the same properties over time, while the median listing price reflects whatever mix of homes happens to be for sale in a given month. A shift toward more modest listings can hold the median down even in a market where individual home values are still rising. Both things appear to be happening in Georgia at once.

How Many Homes Are on the Market

Inventory is where Georgia has changed the most. Active listings stood at 27,283 in Q3 2022 and reached 49,297 by Q2 2026, an increase of 80.7% across the window.

It was not a straight line up. Inventory actually tightened through the first half of 2023, bottoming at 22,032 listings in Q2 2023, and the year over year comparison briefly went negative in Q3 2023 (-6.2%) and Q4 2023 (-0.6%). Then the build began in earnest. Listings hit 32,604 in Q2 2024, up 48.0% from a year earlier, then 38,794 in Q3 2024 (up 51.5%) and 40,257 by Q4 2024. The climb continued through 2025 to 45,201 in Q2 and 48,675 in Q3, and Q2 2026's count of 49,297 is the highest in the window, more than twice the Q2 2023 low. The pace of growth is cooling, at 9.1% year over year in the latest quarter, but the level keeps setting new highs for this period.

For a seller, inventory is leverage, plain and simple. When 22,000 homes were on the market statewide, each listing faced less competition and buyers had to move quickly and bid cleanly. With nearly 50,000 homes listed, buyers can compare, wait, and negotiate, and homes with obvious drawbacks tend to sit while the well priced, well presented ones still move. None of that predicts where prices go next. It simply describes who holds more cards at the negotiating table today than in 2022 or 2023.

What Homes Are Worth in Georgia's Largest Cities

Statewide numbers hide a lot of variation, so here is the same window at street level. The table shows the Zillow Home Value Index (ZHVI), a smoothed, seasonally adjusted estimate of the typical home value in the city proper (not the wider metro area), for Georgia's five largest cities as of Q2 2026, with the baseline each change is measured against.

Columbus is the strongest of the five right now, with typical values up 1.9% year over year. Atlanta sits at the other end at -3.3%. The quarter-by-quarter city numbers, with the same up and down markers, are in the quarterly reports listed further down this page.

Sales, Supply, and Pending Deals

Prices tell you what homes are worth; transactions tell you whether anything is actually moving. Per the Redfin market tracker (all residential, not seasonally adjusted), completed sales in Georgia averaged 11,292 homes a month in Q2 2026 (down 4.1% from the same months a year earlier), with pending sales running 13,546 a month. The median sale price, what buyers actually paid, averaged $387,450, up 1.6% year over year. At the current sales pace the market holds 4.1 months of supply, which by the common rule of thumb is balanced-market territory, and the typical home that sold went under contract in 53 days. Redfin figures for Q2 2026 reflect April and May, the months reported so far; year over year comparisons use the same months a year earlier.

*Partial quarter; see the note above. All change markers compare against the year-earlier baseline shown beneath them.

The Numbers, Quarter by Quarter

All four series, averaged to calendar quarters where the underlying data is monthly.

What This Means If You're Selling

The equity built since 2022 is still on the table

A 14.9% statewide gain over four years means a Georgia home bought or appraised in 2022 is very likely worth more today, and growth, while thin at 1.9%, has stayed positive every quarter. You can see how Georgia's trajectory stacks up against the national market on our main analysis page. The practical point for sellers: the appreciation is already banked. What you net from here depends far less on the market's direction than on how, and to whom, you sell.

More listings means your home gets compared, not just seen

With active listings up 80.7% since Q3 2022, a Georgia buyer touring your home has likely toured several like it that week. Pricing against the competition matters more than it did in 2023, and time on market stretches for homes that show worse than their neighbors. If your house needs work you are not planning to do, that competition hits hardest, which is exactly the situation our guide to selling a house that needs repairs walks through.

Condition decides which buyers show up

Nearly 50,000 active listings mean financed retail buyers can afford to be picky about roofs, HVAC, and inspection findings. Homes in strong condition still attract that full buyer pool. Homes with deferred maintenance increasingly sell to investors and direct buyers instead, at prices that reflect the work needed. That is the corner of the market we operate in every day, and you can see exactly where we buy in Georgia, from Atlanta to Savannah. If you want a number to compare against a listing, we put a written cash offer in front of you within 24 hours, buy as-is with no fees or commissions, and can close in 2-3 weeks. Our Retail Buyer Program is also worth asking about, since it typically nets sellers more than a typical cash offer when the timeline allows.

Quarterly Market Reports

Every quarter in this analysis has its own report page with that quarter's index reading, listing data, mortgage rate, and city values, including the quarters where the story was very different from today's:

• 2022: Q3 · Q4
• 2023: Q1 · Q2 · Q3 · Q4
• 2024: Q1 · Q2 · Q3 · Q4
• 2025: Q1 · Q2 · Q3 · Q4
• 2026: Q1 · Q2

Data and Methodology

• House prices: FHFA All-Transactions House Price Index for Georgia (FRED series GASTHPI).
• Asking prices: Realtor.com Housing Inventory: Median Listing Price in Georgia (FRED series MEDLISPRIGA).
• Inventory: Realtor.com Housing Inventory: Active Listing Count in Georgia (FRED series ACTLISCOUGA).
• Mortgage rate context: Freddie Mac 30-Year Fixed Rate Mortgage Average (FRED series MORTGAGE30US).
• City home values: Zillow Home Value Index (ZHVI), all homes, smoothed and seasonally adjusted, city level, retrieved August 26, 2026.
• Sales, pending sales, months of supply, and days on market: Redfin market tracker (monthly, all residential, not seasonally adjusted); transaction counts shown as monthly averages within each quarter, retrieved August 26, 2026.
• Sales, pending sales, months of supply, and days on market: Redfin market tracker (monthly, all residential, not seasonally adjusted); transaction counts shown as monthly averages within each quarter, retrieved August 26, 2026.
• Monthly series are averaged to calendar quarters.
• Data retrieved August 26, 2026. This page reports historical data; it is not a price forecast or investment advice.