Georgia’s September Housing Market

The Monthly Housing Indicators for Georgia are in for September. There was a mix of trends in the Georgia housing market with New Listings increasing but Pending and Closed Sales dipping slightly. Median and Average Sales Prices posted modest increases, while inventory levels saw substantial year-over-year growth.

• New Listings increased 10 percent to 15,920
• Pending Sales decreased five percent to 8,855
• Closed Sales decreased five percent to 9,481
• Days on Market increased 37 percent to 48 days
• The Median Sales Price increased two percent to $363,500
• The Average Sales Price increased four percent to $444,455
• Inventory levels increased 43 percent to 39,412 units
• Months Supply of Inventory was up to 3.9 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 $324,965. The price range that tended to sell the quickest was the $200,000 to $349,999 range at 41 days; the price range that tended to sell the slowest was the $500,000 or Above range at 43 days. The property type that gained the most inventory was the Townhouse/Condo segment, where it increased 74 percent. That amounts to 3.9 months supply for Single Family homes and 4.4 months supply for Townhouse/Condo.

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