Listings Rise, Sales Dip in August

The Monthly Housing Indicators for Georgia are in for August. New Listings showed a moderate increase.  Meanwhile, Pending and Closed Sales dipped slightly year-over-year. Median and Average Sales Prices stayed flat, while YoY inventory levels saw significant gains.

• New Listings increased 15 percent to 18,020
• Pending Sales decreased four percent to 10,069
• Closed Sales decreased seven percent to 10,634
• Days on Market increased 24 percent to 42 days
• The Median Sales Price stayed flat at $360,000
• The Average Sales Price increased two percent to $437,790
• Inventory levels increased 48 percent to 38,605 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 six percent to $324,668.

The price range that tended to sell the quickest was the $200,000 to $349,999 range at 39 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, which increased 76 percent. That amounts to 3.8 months supply for Single Family homes and 4.1 months supply for Townhouse/Condo.

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