Atlanta REALTORS® Market Brief: February 2017

The Atlanta REALTORS® (ARA), the largest association of its kind in Georgia, released its February 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.

February Comments

Demand: February residential sales were at 3,165, a decrease of 8.6% from the previous year.

Price: Average and median sales prices continue to gain traction and outpace 2016's figures, with positive gains. The median sales price in February was $230,000, an increase of 6.5% from last February. The average sales price was $283,000, up 5.2% from the previous year.

Supply: Atlanta area housing inventory totaled 14,819 units in February, an increase of 13.6% from February, 2016. New listings totaled 4,023, down 4.1% from February, 2016 and down 2.0% from the previous month. The month's supply over a 12-month period remained the same at 3.1 months.

A Word from 2017 Atlanta REALTORS® President Bill Rawlings: "A trend of steady positive growth in the real estate market continues although low inventory continued for Metro Atlanta into 2017. Inventory has been hovering at just over three months of supply for several months. Although median home prices feel that pressure and continue to rise over last year's median and average prices, a trend of steady positive growth continues. The real estate market is well positioned for the latest rise in interest rates, and it should remain strong well into 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.

Friday, March 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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