The Atlanta REALTORS® (ARA), the largest association of its kind in Georgia, released its January 2018 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: January residential sales were at 3,013, a decrease of 4.0% from the previous year.
Price: Average and median sales prices continue to gain traction and outpace 2017’s figures, with positive gains. The median sales price in January was $245,000, an increase of 9.9% from last January. The average sales price was $299,000, up 7.6% from the previous year.
Supply: Atlanta area housing inventory totaled 10,735 units in January, a decrease of 27.0% from January, 2017. New listings totaled 3,582, down 12.7% from January, 2017 and up 41.0% from the previous month. The month’s supply over a 12-month period decreased to 2.2 months.
A Word from 2018 Atlanta REALTORS® President Bill Murray: ”Home sales began the year on a softer note, but January had a previous 12 month period of exceptional sales from new buyer demand,” said Murray. “However, new listings generally aren’t keeping up with what is sold very quickly, moving the year-over-year prices up in face of this tightening housing supply of just 2.2 months of inventory.”
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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.