The Monthly Housing Indicators for Georgia are in for the month of August. Pending Sales jumped 25 percent year over year, and Average Sales Price increased by 15 percent. Meanwhile, Inventory dropped to only 2.2 months supply.

New Listings decreased seven percent to 16,577

Pending Sales were up 25.5 percent to 15,877

Closed Sales were up 12.5 percent to 15,172

Inventory levels shrank 37 percent to 27,937 units

The Median Sales Price increased 14 percent to $263,000

The Average Sales Price increased 15 percent to $316,301

Days on Market was decreased two percent to 51 days

Months Supply of Inventory was down 42 percent to 2.2 months