News Listing and Median Sales Prices Up for Georgia Housing Market in November

The Monthly Housing Indicators for Georgia are in for November! New Listings were up, the Median Sales Price increased 19 percent year-over-year, and Months Supply of Inventory shrank to 1.3 months.
  • New Listings increased four percent to 13,007
  • Pending Sales were flat, with an increase of only 0.1 percent to 12,201
  • Closed Sales were down one percent to 12,762
  • Inventory levels shrank 24 percent to 18,774 units
  • The Median Sales Price increased 19 percent to $315,000
  • The Average Sales Price increased 17 percent to $370,698
  • Days on Market decreased 30 percent to 28 days
  • Months Supply of Inventory was down 28 percent to 1.3 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 priced $124,999 or less and $300,000 and above.  Home priced between $125,000 to $199,000 and $125,000 to $199,999 decreased:

  • $124,999 or less – 2 percent increase
  • $125,000 – $199,999 –26 percent decrease
  • $200,000 – $299,999 – 3 percent decrease
  • $300,000 and above – 35 percent increase

Additionally, Pending Sales for residences with one bedroom or fewer posted the largest gain at 28 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. One-bedroom townhomes/condos saw the largest decrease at 44percent.

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