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Atlanta Real Estate Market Update For December

11_ABR_Market_BriefAtlanta area housing inventory totaled 15,478 units in November, an increase of 36.9% from November 2013. New listings totaled 3,502, up 8.1% from November 2013 and down 24% from the previous month. The supply for sales over a 12 month period remained steady at 4.1 months.  November residential sales were at 2,843, a decrease of 10.6% from the previous year. Year-to-date sales are 1.3% lower than in 2013.

Zana Dillard of Dillard and Company Realty Group said “As we typically see a slow down in the market during Winter months and inventory to increase through February it should create for a good market heading into Spring come March!  As prices rise sellers should continue into the market and with Georgia expecting economic growth in 2015, this should be a driving force for a better real estate market in 2015 building on the momentum of last year!”

As with last month, average and median sales prices continue to outpace 2013’s figures, with positive gains. The median sales price in November was $207,000, an increase of 15.6% from last November. The average sales price was $267,000, up 12.2% from the previous year.

The statistics and graph are courtesy of:  The Atlanta Board of REALTORS®

The Atlanta Board of REALTORS® (ABR) has been an instrumental factor in the growth of real estate in the state of Georgia for more than a century. With nearly 5,000 members, Atlanta is the largest board in Georgia and is considered to be one of the strongest and most successful REALTOR® organizations in the nation. ABR serves as a central source of information for its members, with mainly focusing on real estate education, the promotion of professionalism in the industry and representing REALTORS® members with legislative initiatives to create positive change for the real estate community.

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