Valdosta, GA Market Update

[J. Mitchell Bernier]

Valdosta GA Market Update: Jan 2025

Happy New Year!!

Most of the US real estate market has seen inventory continue to rise with a lot of relisting and stale dated listings, but Valdosta seems to be a “Great White Buffalo” (if you get the movie reference). Last month, I was projecting to see the inventory numbers rise with seasonality and get a slight bump from Hurricane Helene, but that has proven to not be the case.

New inventory and relisting rates have actually declined month over month which is allowing to pricing to remain elevated. Since the last report, we have seen a significant increase to Median Price of New Listings, from $227,950 to $241,450. This is also showing up in the increase to Median List Price of all inventories.

Transaction volumes continue to be slowed with days on market increasing, but Sellers are remaining defiant and not coming off too much of their higher prices. Sellers continue to drive the Valdosta market even during this higher rate environment.

Last month, we were hearing that rental listings under $1250 were continuing to get movement, but anything higher was becoming stale on the rental market. That was short lived! As you can see, the median rent MoM has jumped from $1388 to $1,500 and after a conversation with our leasing team, they have been the busiest they have been in a few weeks, leasing multiple properties with increased rates and in little time on the market for rent. When asked, Are you seeing any pushback on leasing rates? “Absolutely not, we had only one tenant out of eight give any dissatisfaction with the new rent rates this week”

Wil be interested to see if the resale market reverses course over the next month, with rates steady going up the past few weeks.