Pending and Closed Sales Fall, Inventory Rises in April

The Monthly Housing Indicators for Georgia are in for April. Both Pending and Closed Sales declined. along with New Listings. Both Median and Average Sales Prices were flat, with just under one percent increase year over year.

• New Listings decreased 17 percent to 14,245
• Pending Sales decreased 15 percent to 11,596
• Closed Sales were down 24 percent to 10,424
• Days on Market increased 65 percent to 43 days
• The Median Sales Price increased one percent to $348,000
• The Average Sales Price increased one percent to $410,133
• Inventory levels increased 33 percent to 23,075 units
• Months Supply of Inventory was up to 2.1 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 10 percent to $350,000.

The price range that tended to sell the quickest was the $200,000 to $299,999 range at 31 days; the price range that tended to sell the slowest was the $124,999 or Less range at 49 days.

The property type that gained the most inventory was the Townhouse/Condo segment, where it increased 32.9 percent. That amounts to 2.0 months supply for Single Family homes and 2.1 months supply for Townhouse/Condo.

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