Months Supply of Inventory Increases in Georgia Housing Market in November

The Monthly Housing Indicators for Georgia are in for November. Inventory levels were up 57 percent year-over-year, and the Months Supply of Inventory is up 92 percent.
  • New Listings decreased 13 percent to 11,370
  • Pending Sales decreased 34 percent to 8,084
  • Closed Sales were down 236 percent to 9,036
  • Inventory levels increased 57 percent to 29,705 units
  • The Median Sales Price increased 5 percent to $329,900,000
  • The Average Sales Price increased 3 percent to $382,933
  • Days on Market decreased 29 percent to 36 days
  • Months Supply of Inventory was up 92 percent to 2.5 months
Click here to read the full update for November including our Housing Supply Overview.

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 – 19 percent decrease
  • $125,000 – $199,999 – 46 percent decrease
  • $200,000 – $299,999 – 34 percent decrease
  • $300,000 and above – 5 percent increase

Additionally, Pending Sales for residences with one bedroom or fewer posted the largest decrease at 21 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 up for all home types with the exception of homes priced between $125,000 and $199,999. Four bedroom townhomes/condos saw the largest increase at 96 percent.
  • Properties priced above below $124,999 saw a slight slight increase of 9 percent, while properties listed at $300,000 and above posted a significant 94 percent increase in inventory.

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