The Atlanta REALTORS® (ARA), the largest association of its kind in Georgia, released its October 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: October residential sales were at 4,387, an increase of 1.2% 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 October was $243,000, an increase of 5.7% from last October. The average sales price was $305,000, up 7.4% from the previous year.
Supply: Atlanta area housing inventory totaled 14,200 units in October, a decrease of -10.4% from October, 2016. New listings totaled 4,402, down 4.3% from October, 2016 and down 1.1% from the previous month. The month’s supply over a 12-month period decreased to 2.9 months.
A Word from 2017 Atlanta REALTORS® President Bill Rawlings: ”Sales continue to be strong, and prices are staying comparable to the past few months. However, prices are up over last year and our supply of homes is getting tighter. Active listings are down 10% in the Atlanta market from this time last year, which may point prices higher during the upcoming slower winter months.”
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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.