With the summer now upon us Atlanta’s real estate market is heating up and continues its rebound. With new listings up over 6% since 2014 and sales up nearly 9% we should continue to see a strong market heading into the summer! This report covers 11 counties: Cherokee, Clayton, Cobb, DeKalb, Douglas, Fayette, Forsyth, Fulton, Gwinnett, Paulding and Rockdale.
Supply: Atlanta area housing inventory totaled 14,836 units in April, an increase of 3.8% from April 2014. New listings totaled 5,407, up 6.4% from April 2014 and up 10.2% from the previous month. The supply for sales over a 12 month period was steady at 3.8.
Demand: April residential sales were at 4,339, an increase of 8.6% 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 April was $229,000, an increase of 12.3% from last April. The average sales price was $290,000, up 11.5% from the previous year.
A Word from ABR President Ennis Antoine: “We have seen several consecutive months with positive year-over-year gains in median & average sales prices in metro Atlanta. 8 of the last 11 months have positive year-over-year gains in single family home sales as well. This strongly indicates that the selling season will continue to be very active. Labor and economic statistics continue to look positive, which will also largely impact the number of first-time home buyers and the ability of millennials to obtain the necessary financing to purchase a home.”
Courtesy of Atlanta Board of REALTORS®