Atlanta REALTORS® Market Brief: March 2018
The Atlanta REALTORS® (ARA), the largest association of its kind in Georgia, released it’s March 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 March was $268,000, an increase of 7.6% from last March. The average sales price was $326,000, up 7.9% from the previous year.
Supply: Atlanta area housing inventory totaled 11,639 units in March, a decrease of 26.5% from March 2017. New listings totaled 4,898, down 13.4% from March 2017 and up 23.6% from the previous month. The month’s supply over a 12-month period increased to 2.4 months.
A Word from 2018 Atlanta REALTORS® President Bill Murray: “There’s no question that a majority of Atlanta homeowners have amassed considerable equity gains since the downturn. The expanding economy and job market are generating a healthy local demand, but the challenge of low inventory is having a short-term effect on home values and this could have a significant impact on our market.”
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.