The Atlanta REALTORS® (ARA), the largest association of its kind in Georgia, released its July 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.
Price: Average and median sales prices continue to gain traction and outpace 2017’s figures, with positive gains. The median sales price in July was $278,000, an increase of 8.2% from last July. The average sales price was $339,000, up 6.6% from the previous year.
Supply: Atlanta area housing inventory totaled 14,784 units in July, a decrease of 5.8% from July, 2017. New listings totaled 5,361, up 3.8% from July, 2017 and down 4.9% 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 Atlanta market continues to be very active, even with supply issues that keep sales from truly reflecting the local demand. Although the levels of recent monthly home sales roughly match last years levels, the steady rise in prices is an indication of strong continued demand and is great news for homeowners whose largest investment is their home.”
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.