The Valdosta, Georgia housing market offers a blend of affordability, stability, and resilience as it closes out 2024. For buyers and sellers alike, the latest data reveals a community in flux but with promising opportunities.

As of October 31, 2024, Valdosta’s median listing price stood at $249,933, reflecting a 3.9% decrease year-over-year. Meanwhile, the median sale price as of September 30 was $224,300. These metrics point to a neutral housing market, one where prices remain reasonable and homes typically find buyers within standard timeframes, 30-60 days.

Adding to the dynamic is a significant uptick in pending sales — up 16% year-over-year in the fourth week of October. This spike signals that despite some challenges, demand remains robust, bolstered by a local construction market that continues to thrive. The divide between listing prices and selling prices indicates more of a buyer’s market than a seller’s market.

An Inventory Snapshot

Currently, there are 60 homes on the Valdosta market, with list prices ranging from $100,000 to $250,000 and square footage between 1,000 and 2,650 square feet, and 3 to 4 bedrooms. This range provides options for various buyers, from first-time homeowners to families seeking more space. These options reflect Valdosta’s role as a relatively affordable Southern city that caters to a mix of demographics, including young professionals, retirees, and military personnel stationed at Moody Air Force Base.

However, the market’s affordability might face future pressure due to external economic forces. Nationally, the Federal Reserve’s stance on interest rates and inflation is pushing mortgage rates higher. The ESR “guess” was published before the elections in November.  Since then, we’ve witnessed the 10-year treasury dip to its lowest point since the election, closing under the 4.25% threshold and now opening at 4.19%. This pivotal level could potentially edge closer to the 4% mark in the coming days

And it is the 10-year treasury that holds far more sway over mortgage interest rates:  the lower its yield, the lower mortgage rates usually dip.  

New Construction: A Buffer for Buyers

Despite these hurdles, Valdosta’s strong construction market offers a silver lining. Builders continue to deliver new housing stock, helping to stabilize prices and ensure that inventory levels remain healthy. For many prospective buyers, these new homes come with incentives such as reduced closing costs or discounted interest rates, making them attractive alternatives to existing properties.

According to the ESR Group, new home sales are projected to rise in both 2025 and 2026 as builders leverage their ability to adjust pricing and inventory strategies. This proactive approach helps shield Valdosta from some of the affordability constraints affecting other regions.

The Road Ahead

For now, Valdosta’s market remains balanced, offering a rare blend of affordability and opportunity. For buyers, the declining median listing price and robust inventory provide leverage in negotiations, especially as mortgage rates climb. Sellers, meanwhile, can take solace in the steady demand evidenced by the rise in pending sales.

As the market looks toward 2025 and beyond, the key for both buyers and sellers will be patience and adaptability. Valdosta’s steady construction pipeline and affordable price points position it as a standout market in the broader Southern housing landscape.

In a time of uncertainty, Valdosta’s housing market is a reminder that stability often wins out over speculation—a promising note for the city’s residents and future homeowners.

Gary Wisenbaker (gary@realtyadvisorsga.com) is a  Realtor® at Century 21 Realty Advisors and can be reached at (912) 713 2553 and gary50155@gmail.com.