Georgia recorded a total of 8,249 closed sales during November, a 9% year-over-year decline, while pending sales experienced a 7% drop to 8,241 transactions.
According to data from the Georgia Association of Realtors, pending sales were down across all property types and price ranges except for single-family homes priced at $500,000 and above, which posted a 3% increase, and on townhouse/condos priced at $199,999 or less, which saw a 26% spike.
Inventory levels increased from November 2024 by 17% to 46,352 units, although new listings dipped 1% from one year earlier to 13,166 properties. The realtors group noted that despite these double-digit increases, the lack of statewide inventory was still a challenge.
During November, the median sales price dipped by 1% to $356,000 while the average sales price inched up 2% to $449,463.
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