Georgia’s April Housing Market

The Monthly Housing Indicators for Georgia are in for April. New Listings had another month of significant gains year-over-year. Pending Sales were flat and Closed Sales had a slight increase. Median and Average Sales Prices similarly marked an increase as well.

• New Listings increased 29 percent to 18,213
• Pending Sales decreased less than one percent to 11,510
• Closed Sales increased seven percent to 11,181
• Days on Market decreased five percent to 40 days
• The Median Sales Price increased five percent to $365,000
• The Average Sales Price increased eight percent to $444,783
• Inventory levels increased 38 percent to 30,444 units
• Months Supply of Inventory was up to 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 – the property type with the largest price gain was the Townhouse/Condo segment, where Median prices increased seven percent to $319,634. The price range that tended to sell the quickest was the $200,000 to $349,999 range at 37 days; the price range that tended to sell the slowest was the $500,000 or Above range at 42 days. The property type that gained the most inventory was the Townhouse/Condo segment, where it increased 68 percent. That amounts to 3 months supply for Single Family homes and 3.2 months supply for Townhouse/Condo.

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