Top 10 Sales of 2024

Sandy Springs Real Estate Market 2024 – The Year in Review

2024 shows the continuation of recent trends in the Sandy Springs real estate market. While sales volume has declined year-over-year, we are still seeing a rise in property values. As buyers navigated a landscape of rising interest rates and limited inventory, the market remains a haven for homeowners and investors seeking long-term gains.

The number of single-family homes sold in Sandy Springs has declined for four consecutive years, with 2024 recording just 546 sales—a stark 47% drop from the 2021 peak of 1,036. Similarly, sales of condos and townhomes fell by 50% over the same period, from 1,169 units in 2021 to 578 in 2024.  However, these figures tell only part of the story. Home values have surged, defying market norms where declining sales often temper price appreciation. The average sale price of a single-family home in Sandy Springs reached $1,279,181 in 2024, up 48% from 2020. Condo and townhome prices have also climbed steadily, showing a 34% gain.

Experts attribute the rise in home values to a convergence of factors. Sandy Springs has long been synonymous with luxury living and top-tier amenities. The city’s strategic location, coupled with its exceptional schools and growing corporate presence, has ensured continued demand from high-income buyers.  The limited supply of homes has amplified these effects.

The decline in sales volumes is part of a larger trend affecting suburban markets nationwide, fueled by rising mortgage rates, stricter lending standards, and concerns about economic uncertainty. However, Sandy Springs appears to have weathered these challenges better than many other markets, thanks to its unique appeal to both families and investors.