Housing Indicators for June Showing Robust Buyer Demand

The Monthly Housing Indicators for Georgia are in for the month of June. Real estate activity continued to strengthen as reopening phases continue.

  • New Listings decreased four percent to 17,269.
  • Pending Sales were up 21 percent to 16,131.
  • Closed Sales were up six percent to 14,333.
  • Inventory levels shrank 25 percent to 32,752 units.
  • The Median Sales Price increased 4.6 percent to $250,000.
  • Days on Market was up eight percent to 53 days.
  • Months Supply of Inventory was down 29 percent to three months.

Overall, these indicators show robust buyer demand, with sellers not being as eager to list their homes.

Regarding the Housing Supply Overview – which takes a closer look at key metrics in relation to price range, property type and bedroom count – there continues to be disparity between lower ($199K or less) and higher ($200k+) prices, as we saw in April and May.

Pending Sales were down for all properties priced at $199K and below, but increased above the $200K price point:

  • $124,999 or less – 12 percent decrease
  • $125,000 – $199,999 – six percent decrease
  • $200,000 – $299,999 – 15 percent increase
  • $300,000 and above – 13 percent increase

Other Housing Supply Overview Indicators include:

  • The Median Sales Price for all properties – single family as well as townhomes – in all price ranges posted modest gains.
  • Percent of Original List Price Received is flat across the board, regardless of property type and bedroom count.
  • The price range that tended to sell the quickest was the $125,000 to $199,999 range at 42 days; the price range that tended to sell the slowest was the $124,999 or Less range at 66 days.