Georgia’s October Housing Market

The Monthly Housing Indicators for Georgia are in for October. New Listings, Closed and Pending Sales showed moderate increases year-over-year. Median and Average Sales Prices also saw modest growth, and inventory levels saw significant gains with 39 percent more units YoY.

• New Listings increased 14 percent to 16,773
• Pending Sales increased five percent to 9,360
• Closed Sales increased four percent to 9,830
• Days on Market increased 50 percent to 54 days
• The Median Sales Price increased three percent to $360,000
• The Average Sales Price increased six percent to $443,576
• Inventory levels increased 39 percent to 40,077 units
• Months Supply of Inventory was up to 4.0 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 $325,000. The price range that tended to sell the quickest was the $200,000 to $349,999 range at 42 days; the price range that intended to sell the slowest was the $500,000 or Above range at 44 days. The property type that gained the most inventory was the Townhouse/Condo segment, where it increased 69 percent. That amounts to 3.9 months supply for Single Family homes and 4.5 months supply for Townhouse/Condo.

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