Atlanta housing inventory expected to rebound

    georgia-8451a0-e1418159258409-600xx398-265-1-0With two months left in the year, Atlanta’s residential real estate market is still chugging ahead of 2014’s numbers.

    According to the Atlanta Board of Realtors citing data from the First Multiple Listing Service, the average and median sales prices continued to gain traction and outpace 2014’s figures in October. The median sales price in October was $219,000 — a 6.8 percent jump from last year. The average sales price was $274,000, up 5.4 percent from last October.

    Demand saw an increase of 0.5 percent from last year. There were 3,926 residential sales in October.

    The area’s housing inventory also saw a slight increase. Housing inventory totaled 16,133 units in October, up 0.2 percent from last October.

    New listings dropped 1.7 percent from October 2014 to 4,526, down just 0.04 percent from September.

    The supply for sales over a 12 month period dropped to 3.8 — just 0.1 percent less than last month.

    “After several consistent months of housing trends, Atlanta real estate continued its positive momentum in October,” ABR President Ennis Antoine said in a statement. “Home prices and total sales remain on a steady upward slope compared to 2014. Inventory is still hovering at a four month housing supply and expected to rebound slowly. The data and overall economic growth in the area creates confidence in this competitive, seasonally-based market.”

    By: Phil W. Hudson at Atlanta Business Chronicle

    Trackback from your site.

    Leave a Reply