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.
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.