The Atlanta REALTORS® (ARA), the largest association of its kind in Georgia, released its March 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: March residential sales were at 4,838, a decrease of 10.2% 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 March was $268,000, an increase of 7.6% from last March. The average sales price was $326,000, up 7.9% from the previous year.
Supply: Atlanta area housing inventory totaled 11,639 units in March, a decrease of 26.5% from March, 2017. New listings totaled 4,898, down 13.4% from March, 2017 and up 23.6% from the previous month. The month’s supply over a 12-month period increased to 2.4 months.
A Word from 2018 Atlanta REALTORS® President Bill Murray: “There’s no question that a majority of Atlanta homeowners have amassed considerable equity gains since the downturn. The expanding economy and job market are generating a healthy local demand, but the challenge of low inventory is having a short term effect on home values and this could have a significant impact on our market.”
Press Release : Infographic : Presentation Mode
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.