Home sales dropped 37.1% month over month to 3,884 units in January, as new listings surged 19.1% from December to 6,197, Georgia MLS reported, citing its monthly Housing Market Snapshot.

Sales volume by dollar amount fell precipitously, declining 37.4% from $2.59 billion worth of transactions in December to $1.62 billion in January. Last month’s sales total was down 6.9% from the $1.74 billion worth of transactions in January 2021.

The median sale price was $355,000, down 1.4% month over month and up 23.5% year over year, while active listings were down 6.3% month over month and 12.7% year over year, at 6,018.

Georgia MLS’ 12-county report includes Cherokee, Clayton, Cobb, DeKalb, Douglas, Fayette, Forsyth, Fulton, Gwinnett, Henry, Paulding and Rockdale counties.

The firm recently expanded its coverage beyond Georgia’s 159 counties. Georgia MLS now covers another 188 counties of public records in other states, with 95 counties in Tennessee, 47 in North Carolina, 33 in South Carolina, eight in Alabama and five in Florida.

Courtesy of Georgia MLS.