Months Supply Inventory Increases in Georgia Housing Market in September

The Monthly Housing Indicators for Georgia are in for September. Median Sales Prices were up 13 percent year-over-year, Inventory was up 39 percent and Months Supply of Inventory rose 60 percent.

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 down for all properties with the exception of homes priced $300,000 and above:

• $124,999 or less – 14 percent decrease
• $125,000 – $199,999 – 44 percent decrease
• $200,000 – $299,999 – 29 percent decrease
• $300,000 and above – 14 percent increase

Additionally, Pending Sales for existing homes priced between $125,000 to $199,999 saw the largest decrease at 44 percent. Other Housing Supply Overview Indicators include:

• Days on Market decreased for all price ranges and property types with the exception of homes priced between $125,000 to $199,999.
• Median Sales Price increased for all property types regardless of bedroom count.
• Inventory was down for all home types priced at $200,000 and below. One-bedroom townhomes/condos saw the largest decrease at 20 percent.
• Properties priced above below $124,999 saw a slight decrease of six percent, while properties listed at $300,000 and above posted a significant 51 percent increase in inventory.

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