Months Supply of Inventory Increases in Georgia Housing Market in November

The Monthly Housing Indicators for Georgia are in for November. Inventory levels were up 57 percent year-over-year, and the Months Supply of Inventory is up 92 percent.

Click here to read the full update for November including our Housing Supply Overview.

Looking at the Housing Supply Overview – which takes a closer look at key metrics in relation to price range, property type and bedroom count – stark contrasts exist between single-family homes and townhomes/condos, and as well and lower-priced (199K or less) properties. Pending Sales were down for all properties with the exception of homes priced $300,000 and above:

• $124,999 or less – 19 percent decrease
• $125,000 – $199,999 – 46 percent decrease
• $200,000 – $299,999 – 34 percent decrease
• $300,000 and above – 5 percent increase

Additionally, Pending Sales for residences with one bedroom or fewer posted the largest decrease at 21 percent.

Other Housing Supply Overview Indicators include:

• Days on Market decreased for all price ranges and property types with the exception of homes priced between $125,000 to $199,999.
• Median Sales Price increased for all property types regardless of bedroom count.
• Inventory was up for all home types with the exception of homes priced between $125,000 and $199,999. Four bedroom townhomes/condos saw the largest increase at 96 percent.
• Properties priced below $124,999 saw a slight slight increase of 9 percent, while properties listed at $300,000 and above posted a significant 94 percent increase in inventory.

Click here to access the full reports (page is password protected)