Pending and Closed Sales Down in February in Georgia, while Sales Prices Post Modest Increases

• New Listings decreased 11 percent to 12,144
• Pending Sales decreased 19 percent to 10,238
• Closed Sales were down 21 percent to 8,685
• Days on Market increased 58 percent to 52 days
• The Median Sales Price increased three percent to $330,700
• The Average Sales Price increased four percent to $383,532
• Inventory levels increased 58 percent to 23,533 units
• Months Supply of Inventory was up to 2.2 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 property type with the largest price gain was the Single Family Homes segment, where prices increased 14 percent to $350,000. The price range that tended to sell the quickest was the $200,000 to $299,999 range at 27 days; the price range that tended to sell the slowest was the $124,999 or Less range at 49 days.

Other Housing Supply Overview Indicators include:

• Median Sales Price increased for all property types regardless of bedroom count or property type.
• Inventory was up for all property with the exception of homes priced $125,000 to $199,000 which saw a decrease of six percent. Homes priced at $300,000 and above saw the biggest increase at 91 percent.
• Days on Market decreased for all property types with 2 bedrooms or less, but increased 16 percent for homes with three bedrooms (29 days) and 15 percent with four bedrooms (31 days).

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