Atlanta REALTORS® Market Brief: December 2017
The Atlanta REALTORS® (ARA), the largest association of its kind in Georgia, released its December 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.
Price: Average and median sales prices continue to gain traction and outpace 2016’s figures, with positive gains. The median sales price in December was $250,000, an increase of 5.5% from last December. The average sales price was $309,000, up 4.7% from the previous year.
Supply: Atlanta area housing inventory totaled 11,813 units in December, a decrease of 19.8% from December, 2016. New listings totaled 2,540, down 10.1% from December, 2016 and down 27.5% from the previous month. The month’s supply over a 12-month period decreased to 2.4 months.
A Word from 2018 Atlanta REALTORS® President Bill Murray: ”The Atlanta Market finished the year much as it began, with low inventory continuing to be an issue for Metro Atlanta. At the end of 2017, inventory provided just under two and a half month’s supply. As a result, Median Home prices continue to rise with a 5.5% increase over 2016, continuing the trend of steady, positive monthly growth that has lasted over 5 years.”
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.