Georgia’s May Housing Market

The Monthly Housing Indicators for Georgia are in for May. New Listings had another month of significant gains year-over-year. Closed Sales and Days on Market were flat. Median and Average Sales Prices marked an increase. YoY Inventory levels saw significant gains in May.

• New Listings increased 20 percent to 18,762
• Pending Sales decreased seven percent to 11,058
• Closed Sales decreased one percent to 12,249
• Days on Market stayed flat at 38 days
• The Median Sales Price increased three percent to $370,000
• The Average Sales Price increased four percent to $450,168
• Inventory levels increased 48 percent to 33,269 units
• Months Supply of Inventory was up to 3.3 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 seven percent to $320,000. 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 84 percent. That amounts to 3.3 months supply for Single Family homes and 3.6 months supply for Townhouse/Condo.

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