Average Sales Prices Up Slightly in Georgia Housing Market in January

The Monthly Housing Indicators for Georgia are in for Jaunuary. Months Supply of Inventory increased 100 percent year over year and Average Sales Price made slight gains.
  • New Listings decreased two percent to 12,618
  • Pending Sales decreased 17 percent to 9,773
  • Closed Sales were down 30 percent to 6,865
  • Inventory levels increased 60 percent to 24,978 units
  • The Median Sales Price increased three percent to $319,900
  • The Average Sales Price increased two percent to $372,437
  • Days on Market increased 50 percent to 51 days
  • Months Supply of Inventory was up 100 percent to 2.2 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, as well as lower-priced (299K or less) and upper-priced (300K+) properties. Pending Sales were down for all properties regardless of price.
  • $124,999 or less – 22 percent decrease
  • $125,000 – $199,999 – 46 percent decrease
  • $200,000 – $299,999 – 36 percent decrease
  • $300,000 and above – 0.1 percent decrease

Additionally, Pending Sales for residences with one bedroom or fewer posted the largest decrease at 25 percent.

Other Housing Supply Overview Indicators include:

  • Days on Market decreased for homes priced between $124,000 or less and homes $300,000 and above.
  • Median Sales Price increased for all property types regardless of bedroom count or property type.
  • Inventory was up for all property with the exception of homes priced $125,000 to $199,000 which saw a decrease of seven percent. Homes with four bedrooms or more saw the biggest increase at 80 percent.
  • Properties priced  below $124,999 saw an increase of 9 percent, while properties listed at $300,000 and above posted a 94 percent increase in inventory.

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