A total of 7,158 home sales were transacted in Georgia during January, up 2% from one year earlier, while pending sales decreased 15% over the same period to 8,276 deals.
According to data from the Georgia Association of Realtors, the state’s January inventory levels rose by 40% year-over-year to 36,952 units while new listings were up 12% to 16,183 properties. The days on market were up 29% to 63 days.
The median sales price increased by 3% to $349,900 while the average sales price rose by 6% to $426,710.
“The property type with the largest price gain was the townhouse/condo segment, where median prices increased 3% to $325,000,” said the realtors’ group in a statement. “The price range that tended to sell the quickest was the $200,000 to $349,999 range at 46 days; the price range that tended to sell the slowest was the $500,000 or above range at 48 days. The property type that gained the most inventory was the townhouse/condo segment, where it increased 66%. That amounts to 3.6 months’ supply for single-family homes and 4.4 months’ supply for townhouse/condo.”
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