The Atlanta REALTORS® (ARA), the largest association of its kind in Georgia, released its June 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 June was $285,000, an increase of 7.5% from last June. The average sales price was $353,000, up 8.6% from the previous year.
Supply: Atlanta area housing inventory totaled 14,396 units in June, a decrease of 7.1% from June, 2017. New listings totaled 5,638, down 1.6% from June, 2017 and up 8.4% 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: “We are seeing a leveling out of the inventory of available homes, which is due to the supply available and not due to a weakening demand. If the consistency in home inventory over the past months was because of a waning buyer interest, price growth would start slowing. Instead, buyer enthusiasm continues to move prices upwards.”
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.