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Atlanta Real Estate Market Closes Out August With Demand Increasing Over 8 Percent

atlbr augustAtlanta home sales saw a mild increase over the last month of summer with inventory climbing 2% year-over-year.  New listings were also up 1% to close out the month of August.  Demand rose at a much higher clip of nearly 8.5% over 2014!  See the full market report below courtesy of the The Atlanta Board of REALTORS® (ABR).

Supply: Atlanta area housing inventory totaled 16,818 units in August, an increase of 2% from August 2014. New listings totaled 4,780, up 1% from August 2014 and down 14.4% from the previous month. The supply for sales over a 12 month period remained the same as July, at 4.1.

Demand: August residential sales were at 4,652, an increase of 8.4% from the previous year.

Price: Average and median sales prices continue to gain traction and outpace 2014’s figures, with positive gains. The median sales price in August was $225,000, an increase of 2.3% from last August. The average sales price was $291,000, up 6.6% from the previous year.

A Word from ABR President Ennis Antoine:  “Average and Median sales prices continue to show positive gains over 2015, as has been the trend the entire year. Inventory levels have been constant the past three reporting periods, at slightly over 16,500 units. Overall housing market conditions remain positive and on track with a normal, seasonally based market.”

The ABR Market Brief is designed to offer an overview of the Atlanta residential market by providing a synopsis of sales and home prices, and covers 11 counties: Cherokee, Clayton, Cobb, DeKalb, Douglas, Forsyth, Fulton, Gwinnett, Fayette, Henry and Paulding.  Numbers in the reports are updated each month to reflect any additional recordings from the previous month. Each month, the numbers reported for the previous month are updated to reflect additional recordings.

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