Happy New Year! It’s still January so I can still say that.
Housing Indicators are in for 2019, and it was another great year for Georgia’s housing market! With a strong economy and low mortgage rates, buyer activity has been strong. However, inventory levels are still below historical norms, and prices continue to rise.
A few quick facts are listed below – all indicators are year over year for existing single-family homes.
• Median Sales Price: 6% increase to $228,000
• Pending Sales: 6.7% increase to 145,087
• Closed Sales: 4.9% increase to 142,915
• New Listings: 6.4% increase to 201,215
• Average Sales Price: 4% increase to $272,207
• Days on Market: 5% decrease to 55 days
• Months Supply of Inventory: 10.8% decrease to 3.3 months
If you are thinking about buying or selling, now is a good time. Mortgage rates are still low and prices will continue to go up. Give us a call, we are here to help.
The Dinsmore Real Estate Team