Georgia’s August Housing Indicators

The Georgia August 2023 monthly Housing Indicators data shows declines year-over-year for New Listings, Pending Sales, and Closed Sales. Meanwhile, even both Average and Median Sales Prices continued rising while inventory levels dipped. Days on Market also increased significantly.

• New Listings decreased seven percent to 16,054
• Pending Sales decreased 15 percent to 10,640
• Closed Sales were down 12 percent to 11,468
• Days on Market increased 40 percent to 35 days
• The Median Sales Price increased three percent to $356,688
• The Average Sales Price increased six percent to $427,639
• Inventory levels decreased four percent to 27,387 units
• Months Supply of Inventory was up to 2.6 months

In terms of the Housing Supply Overview, which analyzes key metrics concerning price range, property type, and bedroom count, the Townhouse/Condo segment showed the most significant price gain, with Median Prices increasing by five percent to $344,990. The data further revealed that properties within the price range of $200,000 to $299,999 sold the quickest, typically taking 35 days to sell. On the other hand, properties priced at $124,999 or less took the longest to sell, with an average of 52 days on the market. Regarding inventory, the Townhouse/Condo segment experienced an almost four percent decrease. There is 2.5 months supply for Single Family homes and 2.6 months supply for Townhouse/Condo.

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