Months Supply Inventory Increases in Georgia Housing Market in September

The Monthly Housing Indicators for Georgia are in for September. Median Sales Prices were up 13 percent year-over-year, Inventory was up 39 percent and Months Supply of Inventory rose 60 percent.
  • New Listings decreased three percent to 16,072
  • Pending Sales decreased 25 percent to 10,511
  • Closed Sales were down 18 percent to 11,906
  • Inventory levels increased 39 percent to 29,868 units
  • The Median Sales Price increased 13 percent to $340,000
  • The Average Sales Price increased 13 percent to $402,920
  • Days on Market decreased 20 percent to 30 days
  • Months Supply of Inventory was up 60 percent to 2.4 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 – stark contrasts exist between single-family homes and townhomes/condos, and as well and lower-priced (199K or less) properties. Pending Sales were down for all properties with the exception of homes priced $300,000 and above:

  • $124,999 or less – 14 percent decrease
  • $125,000 – $199,999 – 44 percent decrease
  • $200,000 – $299,999 – 29 percent decrease
  • $300,000 and above – 14 percent increase

Additionally, Pending Sales for existing homes priced between $125,000 to $199,999 saw the largest decrease at 44 percent. Other Housing Supply Overview Indicators include:

  • Days on Market decreased for all price ranges and property types with the exception of homes priced between $125,000 to $199,999.
  • Median Sales Price increased for all property types regardless of bedroom count.
  • Inventory was down for all home types priced at $200,000 and below. One-bedroom townhomes/condos saw the largest decrease at 20 percent.
  • Properties priced below $124,999 saw a slight decrease of six percent, while properties listed at $300,000 and above posted a significant 51 percent increase in inventory.

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