The Atlanta REALTORS® (ARA), the largest association of its kind in Georgia, released its August 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: August residential sales were at 5,062, a decrease of 9.7% 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 August was $268,000, an increase of 8.1% from last August. The average sales price was $335,000, up 9.5% from the previous year.
Supply: Atlanta area housing inventory totaled 14,812 units in August, a decrease of 2.8% from August, 2017. New listings totaled 5,208, up 5.2% from August, 2017 and down 2.9% from the previous month. The month’s supply over a 12-month period increased to 3.0 months.
A Word from 2018 Atlanta REALTORS® President Bill Murray: “The most significant challenges facing the housing market stem from insufficient inventory, where new home construction is not keeping up to meet demand. I expect that over the coming year, home sales will remain robust with an anticipated rise in inventory that will help moderate price growth.”
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.