Georgia’s June Housing Market Indicators

The year-over-year Monthly Housing Indicators for June are in for Georgia. According to the Monthly Housing Indicators, both Pending and Closed Sales experienced a drop, as did New Listings. The Median Sales Price remained relatively unchanged, with a slight increase of just under one percent compared to the previous year.

• New Listings decreased 21 percent to 16,578
• Pending Sales decreased 11 percent to 11,475
• Closed Sales were down 15 percent to 12,428
• Days on Market increased 59 percent to 35 days
• The Median Sales Price increased less than one percent to $360,000
• The Average Sales Price increased three percent to $437,337
• Inventory levels increased two percent to 25,184 units
• Months Supply of Inventory was up to 2.4 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 seven percent to $341,000. The data further revealed that properties within the price range of $200,000 to $299,999 sold the quickest, typically taking 33 days to sell. On the other hand, properties priced at $124,999 or less took the longest to sell, with an average of 50 days on the market. Regarding inventory, the Townhouse/Condo segment experienced the most significant increase of two percent. There is 2.3 months supply for Single Family homes and 2.4 months supply for Townhouse/Condo.

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