The Atlanta REALTORS® (ARA), the largest association of its kind in Georgia, released its November 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.
Demand: November residential sales were at 3,953, a decrease of 9.1% 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 November was $263,000, an increase of 7.3% from last November. The average sales price was $328,000, up 8.6% from the previous year.
Supply: Atlanta area housing inventory totaled 14,455 units in November, an increase of 10.2% from November, 2017. New listings totaled 4,066, up 16.0% from November, 2017 and down 18.1% from the previous month. The month’s supply over a 12-month period decreased to 2.9 months.
A Word from 2018 Atlanta REALTORS® President Bill Murray: “New listings have risen the past few months, which has helped moderate price growth and has kept the inventory level higher than this time last year. Atlanta’s market is still positioned as a great long-term strategy for homeowners.”