What the data shows

For the past 18 months, appraisals came in below contract price in roughly 40–50% of transactions. Buyers were overpaying; lenders were capping loans at appraised value; deals were falling apart.

In August 2026, that pattern reversed. Current data shows only about 10% of appraisals gap low—meaning 90% of homes appraise at or above contract price. Mortgage rates holding steady around 6.69%, and Georgia’s supply position has improved significantly compared to the frenzy years. The market has cooled just enough to align contract prices with actual values.

What it means for Georgia

For buyers: The appraisal cliff is gone. If you write an offer today, the appraiser won’t be the deal-killer. You’re back to competing on offer strength and terms, not betting on a lucky appraisal.

For sellers: You don’t get to anchor on wildly optimistic comps anymore. Appraisers are disciplined again—they see the comparable sales, they see the days on market, and they’re valuing accordingly. Georgia’s rural and secondary markets have adjusted fastest; metro Atlanta still commands stronger per-square-foot numbers but without the 2022–2024 exuberance.

For appraisers: This is what a normalized market looks like. Contract price and appraised value are talking to each other again. When they align, it means the market found its equilibrium—supply, demand, and pricing all moved toward honest ground.

The takeaway: markets heal. Appraisal gaps don’t last forever. Georgia’s real estate has moved from a seller’s dream (2022–2023) through a buyer’s panic (2024–early 2026) into something steadier. Watch what happens when rates move next.

— Shelly Berryhill, Georgia Appraisal Services