Georgia’s March Housing Market

The Monthly Housing Indicators for Georgia are in for March. Closed and Pending Sales and Days on Market decreased year-over-year, while New Listings and Median and Average Sales Prices posted increases.

• New Listings increased seven percent to 16,437
• Pending Sales decreased five percent to 11,545
• Closed Sales decreased eight percent to 10,686
• Days on Market decreased six percent to 45 days
• The Median Sales Price increased five percent to $357,450
• The Average Sales Price increased seven percent to $433,713
• Inventory levels increased 25 percent to 28,154 units
• Months Supply of Inventory was up to 2.8 months

Looking at the Housing Supply Overview – which takes a closer look at key metrics in relation to price range, property type and bedroom count – the property type with the largest price gain was the Townhouse/Condo segment, where Median prices increased six percent to $317,500. The price range that tended to sell the quickest was the $200,000 to $349,999 range at 37 days; the price range that tended to sell the slowest was the $500,000 or Above range at 42 days. The property type that gained
the most inventory was the Townhouse/Condo segment, where it increased 44 percent. That amounts to 2.8 months supply for Single Family homes and 2.9 months supply for Townhouse/Condo.

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