Georgia Housing Market in August Shows Increase in Sales Prices and New Listings

The Monthly Housing Indicators for Georgia are in for the month of August. Demand for housing continues to increase as we near the end of 2021. The median sales price increased 15 percent year over year and new listings were up five percent. Pending Sales dipped four percent.
  • New Listings increased five percent to 117,529
  • Pending Sales were down four percent to 15,162
  • Closed Sales were down three percent to 14,905
  • Inventory levels shrank 27 percent to 20,540 units
  • The Median Sales Price increased 15 percent to $302,000
  • The Average Sales Price increased 13 percent to $356,386
  • Days on Market decreased 57 percent to 22 days
  • Months Supply of Inventory was down 35 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 – 3 percent increase
  • $125,000 – $199,999 –21 percent decrease
  • $200,000 – $299,999 – 8 percent increase
  • $300,000 and above – 41 percent increase

Additionally, Pending Sales for residences with one bedroom or fewer posted the largest gain at 38 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 48 percent.

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