20 Dec Georgia’s November Housing Indicators

Georgia’s November Housing Indicators

The Georgia November 2023 monthly Housing Indicators data shows an increase in New Listings and decreases in Pending Sales and Closed Sales year-over-year. Meanwhile, both Average and Median Sales Prices continued rising.

• New Listings increased ten percent to 12,310
• Pending Sales decreased one percent to 7,828
• Closed Sales were down six percent to 8,497
• Days on Market increased eight percent to 39 days
• The Median Sales Price increased six percent to $350,000
• The Average Sales Price increased ten percent to $421,487
• Inventory levels decreased two percent to 28,928 units
• Months Supply of Inventory was 2.9 months

In terms of the Housing Supply Overview, which analyzes key metrics concerning price range, property type, and bedroom count, the Townhouse/Condo segment showed the most significant price gain, with Median Prices increasing by six percent to $312,004. The data further revealed that properties within the price range of $125,000 to $199,999 sold the quickest, typically taking 35 days to sell. On the other hand, properties priced at $124,999 or less took the longest to sell, with an average of 43 days on the market. Regarding inventory, the Townhouse/Condo segment experienced a 21 percent increase. There is 2.9 months supply for Single Family homes and 2.7 months supply for Townhouse/Condo.

This information is from https://garealtor.com/georgias-november-housing-indicators/

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