Atlanta REALTORS® Market Brief: August 2018

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.

August Comments

ARA Market Brief
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.”

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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.

Tuesday, September 11, 2018

About the Atlanta REALTORS® Association

The Atlanta REALTORS® Association (ARA) has been an instrumental factor in the growth of real estate in the state of Georgia for more than a century. With nearly 7,000 members, Atlanta is the largest board in Georgia and is considered to be one of the strongest and most successful REALTOR® organizations in the nation. ARA serves as a central source of information for its members, with mainly focusing on real estate education, the promotion of professionalism in the industry and representing REALTORS® members with legislative initiatives to create positive change for the real estate community.

About First Multiple Listing Service

First Multiple Listing Service, Inc. (FMLS) is the premier data services provider for real estate professionals in Georgia. FMLS was founded by a handful of real estate brokers in Atlanta in 1957. Today, membership is growing quickly and is spreading in every direction throughout Georgia. Currently, FMLS has over 1,900 offices and serves more than 30,000 real estate agents. The FMLS listing database contains more than 36,000 active listings located all over Georgia.

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