Georgia’s housing market delivered mixed results in December. New Listings held steady, while Pending Sales declined and Closed Sales rose. Median Sales Price dipped lower slightly while Average Sales Price saw a modest increase. Although inventory levels continue to climb, housing supply across the state remains tight.
- New Listings stayed flat at 10,690
- Pending Sales decreased four percent to 7,175
- Closed Sales increased three percent to 10,217
- Days on Market increased nine percent to 64 days
- The Median Sales Price decreased one percent to $355,000
- The Average Sales Price increased three percent to $451,484
- Inventory levels increased 13 percent to 40,189 units
- Months Supply of Inventory was up to 3.9 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 Single Family Homes price ranges except for those priced at $500,000 and above, which posted a three percent increase; Townhouse/Condos priced at $199,999 or less posted an eight percent increase as the highest change and $200,000 to $349,999 posted a one percent decrease as the smallest change.
- Days on Market is up across all property types and price ranges, with the most significant increase being for Townhouse/Condo priced at $199,999 or Less at 43 percent.
- Median Sales Prices ranged from flat to modest, with the exception being a 10 percent decrease in Townhomes/Condos with four or more bedrooms. Single Family Homes Two Bedroom saw the largest median price increase at six percent.
- Inventory increased for all property types and price levels, with Townhouse/Condos priced at $199,000 or Less posting the most significant increase at 50 percent. Despite these double-digit increases, lack of inventory remains a challenge throughout the state.
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