Slight dip in real estate sales in 2023; residential sales still bulk of transactions

January 4, 2024 Jessica Waters

In 2023, 404 residential properties sold in Stephens County, compared to 482 in 2022.

In Stephens County in 2023, the highest-cost residential sale was $910,000, compared to $1,249,900 in 2022; the lowest-cost residential sale was $1,000, compared to $1,850 in 2022, and in 2023, the average residential sale was $194,376, down $2,473 from an average of $196,849 in 2022.

According to Georgia Realtors, the median price for a home in the state in July 2023 – the latest statistics available, was $358,000 – a 2 percent increase from July of last year, but below the national median price of $406,700.

Looking at the 2023 specifics, in Stephens County, from Jan. 1, 2023 to Dec. 31, 2023, (as of Jan. 2; some sales may not have been recorded yet), there were 458 qualified sales, 404 of which were properties classified as residential.

Total qualified sales totaled $97,779,612, with $78,527,950 in residential sales.

The largest sale of the year was a $1,695,000 conservation use sale of a home and 90.32-acre estate.

In addition to residential sales in 2023, there were two industrial sales for total of $112,000, one Historical sale for $414,500, 13 conservation-use sales for a total of $8,174,262, 10 Ag sales for a total of $2,128,500, and 28 commercial sales for a total of $8,422,400. The population in Stephens County is 26,784, and the county has 179.13 square miles of land area.

From Jan. 1, 2022 to Dec. 31, 2022, there were 511 qualified sales, 482 of which were properties classified as residential. Total qualified sales totaled $101,086,370, with $94,881,049 in residential sales. The largest sale of the year was a $1,249,900 residential sale.

In Franklin County, From Jan. 1, 2023 to Dec. 31, 2023, (as of Jan. 2; some sales may not have been recorded yet), there were 274 qualified sales, 229 of which were properties classified as residential. Total qualified sales equaled $65,154,613, with $52,237,153 in residential sales. The population in Franklin County is 23,424, and the county has 261.3 square miles of land area.

In Banks County, From Jan. 1, 2023 to Dec. 31, 2023, (as of Jan. 2; some sales may not have been recorded yet), there were 258 qualified sales, 201 of which were properties classified as residential. Total qualified sales equaled $72,483,532, including one $2,950,000 commercial sale, with $48,997,952 in residential sales. The population in Banks County is 18,562, and the county has 232.6 square miles of land area.

In Stephens County, the monthly breakdown of real estate sales for 2023 was as follows:

In January, there were 22 qualified sales, 17 of which were properties classified as residential. Total qualified sales totaled $5,038,000, with $3,897,500 in residential sales. The largest sale of the month was a $785,000 residential sale.

In February, there were 31 qualified sales, 27 of which were properties classified as residential. Total qualified sales totaled $5,539,650, with $4,614,650 in residential sales. The largest sale of the month was a $528,250 residential sale.

In March, there were 28 qualified sales, 22 of which were properties classified as residential. Total qualified sales totaled $5,867,900, with $4,493,900 in residential sales. The largest sale of the month was a $695,000 residential sale.

In April, there were 45 qualified sales, 35 of which were properties classified as residential. Total qualified sales totaled $10,788,000, with $6,931,000 in residential sales. The largest sale of the month was a $1,300,000 conservation use sale of a home and 52-acre estate.

In May, there were 39 qualified sales, 37 of which were properties classified as residential. Total qualified sales totaled $6,847,800, with $5,940,800 in residential sales. The largest sale of the month was a $770,000 conservation use sale of a home and 121-acre estate.

In June, there were 52 qualified sales, 45 of which were properties classified as residential. Total qualified sales totaled $12,112,500, with $9,366,300 in residential sales. The largest sale of the month was a $1,000,000 commercial sale of 4.89 acres with several multi-family units.

In July, there were 47 qualified sales, 43 of which were properties classified as residential. Total qualified sales totaled $10,022,500, with $7,835,500 in residential sales. The largest sale of the month was a $1,450,000 commercial sale of 1.53 acres with several multi-family units.

In August, there were 49 qualified sales, 47 of which were properties classified as residential. Total qualified sales totaled $10,804,441, with $9,848,479 in residential sales. The largest sale of the month was a $910,000 residential sale.

In September, there were 48 qualified sales, 40 of which were properties classified as residential. Total qualified sales totaled $13,110,200, with $9,864,200 in residential sales .The largest sale of the month was a $1,695,000 conservation use sale of a home and 90.32-acre estate.

In October, there were 38 qualified sales, 35 of which were properties classified as residential. Total qualified sales totaled $6,731,301, with $5,468,301 in residential sales. The largest sale of the month was a $741,800 commercial sale of 0.32 acres with two multi-family units.

In November, there were 44 qualified sales, 42 of which were properties classified as residential. Total qualified sales totaled $3,121,300, with $2,871,300 in residential sales. The largest sale of the month was a $790,000 residential sale.

In December (As of Jan. 2; some sales may not have been recorded yet), there were 15 qualified sales, 14 of which were properties classified as residential. Total qualified sales totaled $7,796,020, with $7,396,020 in residential sales. The largest sale of the month was a $519,500 residential sale.

Annual figures

In Stephens County, from Jan. 1, 2023 to Dec. 31, 2023, (as of Jan. 2; some sales may not have been recorded yet), there were 458 qualified sales, 404 of which were properties classified as residential. Total qualified sales totaled $97,779,612, with $78,527,950 in residential sales. The largest sale of the year was a $1,695,000 conservation use sale of a home and 90.32-acre estate. In addition to residential sales in 2023, there were two industrial sales for total of $112,000, one Historical sale for $414,500, 13 conservation-use sales for a total of $8,174,262, 10 Ag sales for a total of $2,128,500, and 28 commercial sales for a total of $8,422,400.

According to a recent report on Motley Fool’s Ascent newsletter, the median home sales price in the United States is $431,000 as of the third quarter of 2023. That’s up 4% from the second quarter of 2023, when the median home sales price was $416,100.

Hawaii is the most expensive state to buy a house, with a median home value of $972,885, according to the Zillow Home Value Index.

West Virginia is the least expensive state to buy a house, with a median home value of $158,495 according to the Zillow Home Value Index.

According to the report, “The Federal Reserve only provides data on home sales prices and does not include state-level data. The Zillow Home Value Index (ZHVI), however, does provide that data. The ZHVI isn’t an average, but it represents the typical home value in a given area. In the United States as a whole, the ZHVI as of the end of August 2023 is $350,113.”

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