Georgia Housing Market Showing Improvements at Midyear

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ATLANTA, July 31, 2014 (GLOBE NEWSWIRE) -- The Georgia REALTORS® (GAR) has released its monthly housing indicators report, which includes statistics for the first half of 2014, and factors indicate that Georgia's housing market continues on a positive trajectory. Compared to the first half of 2013, the following numbers show modest but steady growth for Georgia's housing market in 2014:

  • Median Sales Price is up 18 percent to $160,000
  • Average Sales Price is up 15 percent to $204,683
  • Percent of Original Price Received remained almost even at 94.4 percent, which is a slight .4 percent decrease
  • Pending Sales are up nine percent
  • Days on Market Until Sale is down eight percent to 77 days average
  • New Listings are up 10 percent
  • Affordability Index is down 14 percent

The GAR housing indicators report is derived from data from Multiple Listing Services in Atlanta (Georgia MLS and First Multiple Listing Service), Columbus, Savannah, Macon, and Augusta. While 100 percent of all activity in the state is not accounted for, the indicators do give an accurate representative sample of the housing market activity and trends throughout the state. However, activity does vary across the state.

The Georgia REALTORS® (also known as Georgia Association of REALTORS®) is a voluntary professional association of approximately 27,000 licensed real estate brokers and salespersons engaged in all aspects of the real estate business throughout Georgia. GAR is the leading advocate for the real estate industry in Georgia, committed to protecting private property rights and free enterprise, maintaining ethical and professional standards, and enhancing the public's awareness and confidence in REALTORS®.

CONTACT: Brandie Miner Director of Communications & Marketing Georgia REALTORS(R) 678-597-4111

Source: Georgia REALTORS