In July 2023, several housing indicators in Georgia showed noteworthy trends:

  • New Listings: Decreased by 16%.
  • Pending Sales: Experienced an 8% decrease.
  • Closed Sales: Saw a decline of 17%.
  • Days on Market: Increased significantly by 55%.
  • Median Sales Price: Demonstrated a moderate 2% increase.
  • Average Sales Price: Showed a solid 6% increase.
  • Inventory Levels: Decreased by 7%.
  • Housing Inventory Supply: Rose to 2.5 months.
  • Property Sales in the $200,000 to $299,999 Range: Typically took 34 days to sell, indicating the quickest sales.
  • Single Family Home Supply: Stands at 2.3 months.
  • Townhomes/Condo Home Supply: Also at 2.5 months.

The July 2023 monthly indicators, when compared to the previous year, reveal the following trends:

  • Fewer Sales: There was a decrease in the number of sales.
  • Rising Prices: Prices exhibited an upward trajectory.
  • Increased Time on Market: Sellers experienced longer durations for property sales.
  • Tight Inventory: Inventory levels remained constrained.