Georgia’s February Housing Market: Significant Gains in New Listings

The Monthly Housing Indicators for Georgia are in for February. New Listings had another month of significant gains year-over-year. Closed Sales and Inventory increased slightly, and Pending Sales stayed flat. Median and Average Sales Prices posted increases as well.

• New Listings increased 26 percent to 15,019
• Pending Sales increased one percent to 10,184
• Closed Sales increased three percent to 8,983
• Days on Market decreased four percent to 49 days
• The Median Sales Price increased five percent to $349,950
• The Average Sales Price increased eight percent to $414,350
• Inventory levels increased 21 percent to 27,211 units
• Months Supply of Inventory was up to 2.7 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 five percent to $315,000. 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 42 percent. That amounts to 2.7 months supply for Single Family homes and 2.8 months supply for Townhouse/Condo.

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