Months Supply Inventory Increases in Georgia Housing Market In June

• New Listings increased eight percent to 20,898
• Pending Sales decreased 17 percent to 12,935
• Closed Sales were down 13 percent to 14,485
• Inventory levels increased 24 percent to 24,673 units
• The Median Sales Price increased 20 percent to $360,000
• The Average Sales Price increased 17 percent to $425,032
• Days on Market decreased eight percent to 22 days
• Months Supply of Inventory was up 29 percent to 1.8 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 down for all properties with the exception of homes priced $300,000 and above:

• $124,999 or less – 10 percent decrease
• $125,000 – $199,999 – 40 percent decrease
• $200,000 – $299,999 – 24 percent decrease
• $300,000 and above – 20 percent increase

Additionally, Pending Sales for existing townhomes with three bedrooms posted the largest gain at 96 percent. Other Housing Supply Overview Indicators include:

• Days on Market decreased for all price ranges and property types.
• Median Sales Price increased for all property types regardless of bedroom count.
• Inventory was down for all home types with the exception of homes priced at $300,000 and above with two or more bedrooms. One-bedroom townhomes/condos saw the largest decrease at 40 percent.

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