Georgia Housing Market Off to a Robust Start in January

The Monthly Housing Indicators for Georgia are in for the month of January. Closed Sales increased by 13 percent year over year with median sales prices increasing by 16 percent.
  • New Listings decreased 18 percent to 12,987
  • Pending Sales were up 13 percent to 12,639
  • Closed Sales were up 13 percent to 9,660
  • Inventory levels shrank 51 percent to 18,608 units
  • The Median Sales Price increased 16 percent to $225,000
  • The Average Sales Price increased 18 percent to $315,135
  • Days on Market was decreased 35 percent to 41 days
  • Months Supply of Inventory was down 56 percent to 1.4 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 – 11 percent decrease
  • $125,000 – $199,999 – 12 percent decrease
  • $200,000 – $299,999 – 20 percent increase
  • $300,000 and above – 33 percent increase

Additionally, Pending Sales for residences with four bedrooms or more posted the largest gain at 15 percent.

Other Housing Supply Overview Indicators include:

  • Days on Market decreased for all price ranges except for homes below $124,999, which increased by 6 percent. By housing type, one-bedroom condo/townhomes saw the largest increase in Days on Market at 12 percent.
  • Median Sales Price increased for all property types regardless of bedroom count. Homes with four or more bedrooms increased for single-family homes by 8 percent.
  • Inventory was down across all housing types, regardless of price. Four-bedroom single-family homes saw the largest decrease at 59 percent.

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