2023 saw the most dramatic decrease in home sales Sandy Springs has seen in recent history. While this trend has continued into 2024, with the second quarter showing further declines in the number of units sold, there is a silver lining.
Sales of single-family homes have dropped by 17%, while condos and townhomes have experienced a 7.7% year-over-year decrease. The good news is that this decline has led to an increase in much-needed inventory, a welcome change after several years of scarcity.
While the increase in inventory is a positive development for buyers, the continued high demand for homes in Sandy Springs has resulted in stable prices for sellers. Q2 saw slight increases in pricing year over year for both single family housing as well as condos and townhomes at 6.5% and 5.6% respectively.
With a balanced mix of increased inventory and stable prices, Sandy Springs continues to be a thriving community for both new buyers and long-term residents. The evolving market conditions highlight the resilience and appeal of this vibrant city’s real estate market.
| Year |
| April – June 2023 | April – June 2024 | Difference YOY |
|
Single-Family Homes
| Total Sold | 196 | 162 | 17.3% Decrease |
| Average Sales Price | $1,234,702 | $1,314,861 | 6.5% Increase | |
|
Condos/Townhomes
| Total Sold | 182 | 168 | 7.7% Decrease |
| Average Sales Price | $362,249 | $382,484 | 5.6% Increase |
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