Georgia’s December Housing Market

The Monthly Housing Indicators for Georgia are in for December. New Listings and Closed Sales posted year-over-year gains, whereas Pending Sales were mostly flat. Median and Average Sales Prices also posted increases. Meanwhile inventory levels recorded substantial increases compared to the previous year.

• New Listings increased 18 percent to 10,533
• Pending Sales decreased two percent to 7,050
• Closed Sales increased 11 percent to 9,566
• Days on Market increased 34 percent to 59 days
• The Median Sales Price increased five percent to $357,450
• The Average Sales Price increased seven percent to $440,339
• Inventory levels increased 34 percent to 34,943 units
• Months Supply of Inventory was up to 3.4 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 – the property type with the largest price gain was the Townhouse/Condo segment, where Median prices increased three percent to $325,000. The price range that tended to sell the quickest was the $200,000 to $349,999 range at 45 days; the price range that tended to sell the slowest was the $500,000 or Above range at 47 days. The property type that gained
the most inventory was the Townhouse/Condo segment, where it increased 56 percent. That amounts to 3.4 months supply for Single Family homes and 4 months supply for Townhouse/Condo.

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