March Housing Indicators Show Uptick in New Listings

The Monthly Housing Indicators for Georgia are in for March. New Listings saw robust gains, while Pending and Closed Sales declined again. Both Median and Average Sales Prices stayed flat, as Days on Market increased. Inventory levels are still climbing, but remain a challenge across the state, which is a trend reflected nationwide.

• New Listings increased 20 percent to 19,788
• Pending Sales decreased three percent to 9,356
• Closed Sales decreased eight percent to 8,190
• Days on Market increased 29 percent to 61 days
• The Median Sales Price increased 0.8% to $360,000
• The Average Sales Price increased 1.6% percent to $440,344
• Inventory levels increased 39 percent to 40,422 units
• Months Supply of Inventory was up to four 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 following indicators were noted:

• Pending Sales were down across all property types and price ranges except for Single Family Homes priced at $500,000 and above, which posted a 7.4% increase
• Days on Market are up across all property types and price ranges, with the most significant increase being for one bedroom Townhomes/Condos at 69.5%
• Median Sales Prices posted modest gains in almost all property types and prices ranges, with the exception being a 2.4% decrease in Townhomes/Condos with four or more bedrooms
• Inventory increased for all property types and price levels, with two bedroom Townhome/Condos posting the highest increase at 79%, for a total of 1,934 listings

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