Georgia’s June Housing Market

The Monthly Housing Indicators for Georgia are in for June. Pending and Closed Sales showed declines year-over-year, while new listings showed an increase. Median and Average Sales Prices saw modest growth and YoY Inventory levels saw significant gains in June.

• New Listings increased ten percent to 17,994
• Pending Sales decreased seven percent to 10,555
• Closed Sales decreased 14 percent to 10,718
• Days on Market increased nine percent to 37 days
• The Median Sales Price increased two percent to $368,000
• The Average Sales Price increased four percent to $461,880
• Inventory levels increased 48 percent to 35,680 units
• Months Supply of Inventory was up to 3.6 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 $320,981. The price range that tended to sell the quickest was the $200,000 to $349,999 range at 38 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 81 percent. That amounts to 3.5 months supply for Single Family homes and 3.8 months supply for Townhouse/Condo.

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