Georgia Housing Market Remains Robust in October

The Monthly Housing Indicators for Georgia are in for October! New Listings were down slightly, the Median Sales Price increased 17 percent year-over-year, and Inventory Levels shrank to 1.4 months.

  • New Listings decreased five percent to 15,898
  • Pending Sales increased one percent to 14,475
  • Closed Sales were down eight percent to 13,883
  • Inventory levels shrank 24 percent to 20,511 units
  • The Median Sales Price increased 17 percent to $310,000
  • The Average Sales Price increased 15 percent to $365,158
  • Days on Market decreased 40 percent to 26 days
  • Months Supply of Inventory was down 30 percent to 1.4 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 – 1 percent increase
  • $125,000 – $199,999 –24 percent decrease
  • $200,000 – $299,999 – 0.4 percent increase
  • $300,000 and above – 36 percent increase

Additionally, Pending Sales for residences with one bedroom or fewer posted the largest gain at 32 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 54 percent.

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