Riverdale Real Estate Trends: What Buyers and Sellers Need to Know in 2024

As we approach the end of 2024, Riverdale, Georgia's real estate market presents a dynamic landscape for both buyers and sellers. Understanding current trends is essential for making informed decisions. Here’s an in-depth look at the key factors shaping Riverdale’s housing market this year.

Market Overview

In September 2024, the median home price in Riverdale was $252,000, reflecting a 2.9% decrease from the previous year. Homes typically spent an average of 54 days on the market, compared to 29 days last year, indicating a slower sales pace. Notably, 16 homes were sold in September, up from 9 in the same month last year, suggesting increased buyer activity despite longer selling times.

Price Trends

The average home value in Riverdale stands at $234,748, marking a 1.7% increase over the past year. This modest appreciation indicates a relatively stable market, offering opportunities for both buyers and sellers.

Inventory and Sales

As of October 2024, there were 360 homes for sale in Riverdale, a 12.9% increase from September. This rise in inventory provides buyers with more options, potentially easing competition. Additionally, 59 homes were sold in October, a 9.3% increase from the previous month, indicating healthy market activity.

Days on Market

The average time a home remains on the market has increased to 48 days, up 79.2% from last year. This trend suggests a shift towards a more balanced market, where buyers have more time to make decisions, and sellers may need to adjust pricing strategies accordingly.

Neighborhood Insights

Riverdale offers a variety of neighborhoods catering to different buyer preferences. For instance, the 30274 zip code had a median listing home price of $245,000 in November 2023, trending up 8.9% year-over-year. The median listing price per square foot was $158, indicating affordability relative to other Metro Atlanta areas.

Future Outlook

Looking ahead, Georgia’s real estate market is expected to continue its growth trajectory. Factors such as a thriving economy, favorable demographics, and relatively affordable housing options contribute to this positive outlook. However, potential buyers and sellers should stay informed about local market conditions, as trends can vary between neighborhoods.

Tips for Buyers and Sellers

• For Buyers: With increased inventory and longer days on market, now may be an opportune time to negotiate favorable terms. Engaging with a local real estate expert can provide insights into the best neighborhoods and pricing strategies.
• For Sellers: Given the slight decrease in median home prices and longer selling times, it’s crucial to price your home competitively and consider enhancing its appeal through staging or minor renovations to attract potential buyers.

Conclusion: Your Trusted Guide to Riverdale Real Estate

The Riverdale real estate market in 2024 presents unique opportunities for buyers and sellers alike. With home prices stabilizing, inventory increasing, and days on market providing room for strategic decisions, it’s the perfect time to explore your options. Whether you're buying your first home, downsizing, or relocating, understanding the latest trends ensures you make informed, confident choices.

As a local Realtor specializing in the Riverdale area, I’m here to simplify the process and guide you every step of the way. From navigating current market trends to crafting winning strategies tailored to your needs, my goal is to make your real estate journey seamless and successful.

Let’s turn your real estate goals into reality. Contact me, Johnnie Benton, at (470) 885-8804 or jebentonsr@gmail.com, and let’s make your move in Riverdale a smooth one!