Atlanta REALTORS® Market Brief: December 2016

The Atlanta REALTORS® (ARA), the largest association of its kind in Georgia, released its December 2016 Market Brief on residential housing statistics in metro-Atlanta. The Market Brief, compiled by First Multiple Listing Service (FMLS), provides the only regionally focused synopsis of monthly sales and home prices for single family residential properties. Covers 11 counties: Cherokee, Clayton, Cobb, DeKalb, Douglas, Fayette, Forsyth, Fulton, Gwinnett, Paulding and Rockdale.

December Comments

Demand: December residential sales were at 4,086, a decrease of 6.2% from the previous year.

Price: Average and median sales prices continue to gain traction and outpace 2015’s figures, with positive gains. The median sales price in December was $239,000, an increase of 2.6% from last December. The average sales price was $300,000, up 2.7% from the previous year.

Supply: Atlanta area housing inventory totaled 14,738 units in December, an increase of 6.5% from December 2015. New listings totaled 2,824, down 2.8% from December 2015 and down 23.0% from the previous month. The month’s supply over a 12-month period decreased to 3.1 months.

A Word from 2017 Atlanta REALTORS® President Bill Rawlings: “Low inventory continued to be an issue for Metro Atlanta throughout 2016 with inventory still hovering at just over 3 month’s supply. As a result Median Home prices continue to rise with a 6.2% increase over 2015 and overall, 2016 sales were 7.9% ahead of 2015. This continues a trend of steady positive growth each month for the past 5 years. While there are still concerns over potential interest rates, we remain bullish about the housing market outlook for 2017.”

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The data in this report was compiled by First Multiple Listing Service (FMLS). For more information on details of this month's report, please contact the Association at 404.250.0051.

*Each month, the numbers reported for the previous month are updated to reflect additional recordings.

Tuesday, January 17, 2017

About the Atlanta REALTORS® Association

The Atlanta REALTORS® Association (ARA) has been an instrumental factor in the growth of real estate in the state of Georgia for more than a century. With nearly 7,000 members, Atlanta is the largest board in Georgia and is considered to be one of the strongest and most successful REALTOR® organizations in the nation. ARA serves as a central source of information for its members, with mainly focusing on real estate education, the promotion of professionalism in the industry and representing REALTORS® members with legislative initiatives to create positive change for the real estate community.

About First Multiple Listing Service

First Multiple Listing Service, Inc. (FMLS) is the premier data services provider for real estate professionals in Georgia. FMLS was founded by a handful of real estate brokers in Atlanta in 1957. Today, membership is growing quickly and is spreading in every direction throughout Georgia. Currently, FMLS has over 1,900 offices and serves more than 30,000 real estate agents. The FMLS listing database contains more than 36,000 active listings located all over Georgia.

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