New Listings Increase and Sales Prices Up For Georgia Housing Market in July

As record-high sales increase nationwide, more sellers are listing their homes. The median sales price increased 18 percent year over year and new listings were up 5 percent.
  • New Listings increased 5 percent to 18,627
  • Pending Sales were down 9 percent to 14,658
  • Closed Sales were down 6 percent to 15,320
  • Inventory levels shrank 33 percent to 20,392 units
  • The Median Sales Price increased 18 percent to $305,000
  • The Average Sales Price increased 18 percent to $365,934
  • Days on Market decreased 56 percent to 22 days
  • Months Supply of Inventory was down 40 percent to 1.5 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 up for all properties with the exception of homes priced between $125,000 to $199,000:

  • $124,999 or less – 2 percent increase
  • $125,000 – $199,999 –19 percent decrease
  • $200,000 – $299,999 – 13 percent increase
  • $300,000 and above – 46 percent increase

Additionally, Pending Sales for residences with one bedroom or fewer posted the largest gain at 38 percent.

Other Housing Supply Overview Indicators include:

  • Days on Market decreased for all price ranges.
  • Median Sales Price increased for all property types regardless of bedroom count.
  • Inventory was down across all housing types, regardless of price. Four-bedroom single-family homes saw the largest decrease at 34 percent.

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