2022 was certainly a fascinating year in Sandy Springs real estate! Inventory remained tighter than usual, while mortgage rates rose by a higher margin than any other year on record. For the first time in 5 years, the number of units sold in Sandy Springs year over year actually dropped. In fact, the number of both single-family homes and condo/townhomes sold during 2022 was substantially lower than any of the previous 4 years. Interestingly, the average sales price rose yet again, illustrating the strong buyer demand in our community.
Number Of Single Family Homes Sold
Average Single Family Home Sale Price
Number of Condos/Townhomes Sold
Average Condo/Townhome Price
I am not going to make any predictions at this point for 2023 but am looking forward to seeing what this year will bring. Stay tuned for first quarter stats.
The highest sale price in Sandy Springs real estate during 2022 was $9,350,000 for a fabulous new build on 6 1/2 acres with a lake. Other than this sale, the prices of the next nine top sales of the year were slightly lower than in 2021, demonstrating that while home values rose overall last year, prices actually slipped down in the top-most portion of our market.