Georgia’s November Housing Indicators

The Georgia November 2023 monthly Housing Indicators data shows an increase in New Listings and decreases in Pending Sales and Closed Sales year-over-year. Meanwhile, both Average and Median Sales Prices continued rising.

• New Listings increased ten percent to 12,310
• Pending Sales decreased one percent to 7,828
• Closed Sales were down six percent to 8,497
• Days on Market increased eight percent to 39 days
• The Median Sales Price increased six percent to $350,000
• The Average Sales Price increased ten percent to $421,487
• Inventory levels decreased two percent to 28,928 units
• Months Supply of Inventory was 2.9 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 six percent to $312,004. The data further revealed that properties within the price range of $125,000 to $199,999 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 43 days on the market. Regarding inventory, the Townhouse/Condo segment experienced a 21 percent increase. There is 2.9 months supply for Single Family homes and 2.7 months supply for Townhouse/Condo.

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