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.
Demand: May residential sales were at 5,860, an increase of 0.1% 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 May was $258,000, an increase of 4.9% from last May. The average sales price was $323,000, up 6.3% from the previous year.
Supply: Atlanta area housing inventory totaled 14,658 units in May, a decrease of 3.8% from May, 2016. New listings totaled 5,568, up 2.6% from May, 2016 and up 10.4% from the previous month. The month’s supply over a 12-month period increased to 3.1 months.
A Word from 2017 Atlanta REALTORS® President Bill Rawlings: ”The housing market shows ongoing strength, with prices steadily improving and inventory generally maintaining about three months supply. New buyers and sellers continue to enter the market in increasing numbers, although homes under $400,000 in highly desirable school districts are currently in short supply.”
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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.