The Monthly Housing Indicators for Georgia are in for June. New Listings and Closed Sales saw moderate year-over-year gains, while Pending Sales declined. Median and Average Sales Prices were flat. Inventory levels continue to rise; however, lack of housing supply continues to remain a challenge across the state.
- New Listings increased seven percent to 19,675
- Pending Sales decreased four percent to 10,748
- Closed Sales increased 11 percent to 12,320
- Days on Market increased 35 percent to 50 days
- The Median Sales Price increased one percent to $375,000
- The Average Sales Price increased one percent to $467,096
- Inventory levels increased 33 percent to 48,751 units
- Months Supply of Inventory was up to 4.8 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 following indicators were noted:
- Pending Sales were down across all property types and price ranges except for Single Family Homes priced at $500,000 and above, which posted a six percent increase
- Days on Market are up across all property types and price ranges, with the most significant increase being for one bedroom or fewer Townhomes/Condos at 73 percent.
- Median Sales Prices ranged from flat to modest, with the exception being a seven percent decrease in Townhomes/Condos with four or more bedrooms. Two bedroom Single Family Homes saw the largest median price increase at four percent.
- Inventory increased for all property types and price levels, with Townhome/Condos priced at $199,000 or less posting the most significant increase at 99 percent. Despite these double-digit increases, lack of inventory remains a challenge throughout the state.
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