Demand For Housing Remains High in Georgia in June

The Monthly Housing Indicators for Georgia are in for the month of June. Summer is here and buyers are flooding the market in search of their next homes. Average sales prices have increased 24 percent year over year and inventory was down 43 percent.
  • New Listings increased 9 percent to 18,821
  • Pending Sales were down 4 percent to 15,367
  • Closed Sales were up 10 percent to 15,973
  • Inventory levels shrank 43 percent to 18,588 units
  • The Median Sales Price increased 22 percent to $304,000
  • The Average Sales Price increased 24 percent to $363,502
  • Days on Market decreased 55 percent to 24 days
  • Months Supply of Inventory was down 54 percent to 1.3 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 – stark contrasts exist between single-family homes and townhomes/condos, and as well and lower-priced (199K or less) properties.

Pending Sales were up for all properties with the exception of homes priced between $125,000 to $199,000:

  • $124,999 or less – 3 percent increase
  • $125,000 – $199,999 – 16 percent decrease
  • $200,000 – $299,999 – 18 percent increase
  • $300,000 and above – 52 percent increase

Additionally, Pending Sales for residences with one bedroom or fewer posted the largest gain at 41 percent.

Other Housing Supply Overview Indicators include:

  • Days on Market decreased for all price ranges.
  • 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 52 percent.

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