The Atlanta REALTORS® (ARA), the largest association of its kind in Georgia, released its November 2017 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: November residential sales were at 4,023, a decrease of 5.7% 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 November was $248,000, an increase of 6.4% from last November. The average sales price was $306,000, up 4.8% from the previous year.
Supply: Atlanta area housing inventory totaled 13,116 units in November, a decrease of -16.2% from November, 2016. New listings totaled 3,504, down 4.4% from November, 2016 and down 20.4% from the previous month. The month’s supply over a 12-month period decreased to 2.7 months.
A Word from 2017 Atlanta REALTORS® President Bill Rawlings: ”The Atlanta market had fewer sales than a year ago, largely due to lower levels of inventory for prospective buyers. These inventory levels are also keeping prices higher during these fall and winter months. The seasonal decline in inventory we are seeing will likely continue to add to competitive conditions through the winter.”
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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.