Georgia Housing Prices Continue to Climb in September

The Monthly Housing Indicators for Georgia are in for September! A slight decrease in existing home sales has caused sales prices to climb as we head into the fall months. The Average Sales Price increased 12 percent year over year, and Days on Market is down to 1.5 months.
  • New Listings were flat, with an increase of one percent to 16,081
  • Pending Sales were also flat, with an increase of only 0.1 percent to 13,900
  • Closed Sales were down six percent to 14,015
  • Inventory levels shrank 24 percent to 20,522 units
  • The Median Sales Price increased 16 percent to $305,000
  • The Average Sales Price increased 12 percent to $360,521
  • Days on Market decreased 49 percent to 24 days
  • Months Supply of Inventory was down 29 percent to 1.5 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 – 2 percent increase
  • $125,000 – $199,999 –23 percent decrease
  • $200,000 – $299,999 – 4 percent increase
  • $300,000 and above – 38 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.
  • Median Sales Price increased for all property types regardless of bedroom count.
  • Inventory was down across all housing types, regardless of price. Four-bedroom townhome/condos saw the largest decrease at 43 percent.

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