Another Strong Month for Georgia Housing Market in April

The Monthly Housing Indicators for Georgia are in for the month of April. Spring is here and the busy market continues to drive sales prices over asking price. Closed Sales increased by 38 percent year over year with median sales prices increasing by 17 percent.
  • New Listings increased 31.9 percent to 18,180
  • Pending Sales were up 47 percent to 15,362
  • Closed Sales were up 38 percent to 14,412
  • Inventory levels shrank 55 percent to 17,209 units
  • The Median Sales Price increased 17 percent to $287,000
  • The Average Sales Price increased 22 percent to $349,715
  • Days on Market was decreased 43 percent to 31 days
  • Months Supply of Inventory was down 64 percent to 1.2 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 – 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 priced at $199K and below, but increased above the $200K price point:

  • $124,999 or less – 0.1 percent decrease
  • $125,000 – $199,999 – 10 percent decrease
  • $200,000 – $299,999 – 26 percent increase
  • $300,000 and above – 54 percent increase

Additionally, Pending Sales for residences with one bedroom or fewer posted the largest gain at 36 percent.

Other Housing Supply Overview Indicators include:

  • Days on Market decreased for all price ranges except for homes below $124,999, which increased by 5 percent. By housing type, one-bedroom condo/townhomes saw the largest increase in Days on Market at 9 percent.
  • Median Sales Price increased for all property types regardless of bedroom count.
  • Inventory was down across all housing types, regardless of price. Four-bedroom single-family homes saw the largest decrease at 62 percent.

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