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.