Demand In Atlanta’s Real Estate Market Up Nearly 5% Heading Into 2016

    dec2015The Atlanta Board of REALTORS® (ABR), the largest association of its kind in Georgia, released its December 2015 Market Brief on residential housing statistics for 11 area counties in metro-Atlanta. Market Brief, now compiled by First Multiple Listing Service (FMLS), provides the only regionally focused synopsis of monthly sales and home prices for single family residential properties.

    Demand: December residential sales were at 4,054, an increase of 4.7% 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 December was $225,000, an increase of 7.1% from last December. The average sales price was $286,000, up 5.5% from the previous year.

    Supply: Atlanta area housing inventory totaled 13,840 units in December, a decrease of 2.9% from December 2014. New listings totaled 2,904, up 2.3% from December 2014 and down 16.4% from the previous month. The supply for sales over a 12 month period declined to its lowest in 2015, at 3.2.

    A Word from 2016 ABR President Lane McCormack: “December was a very healthy month for the Atlanta housing market. Once the final numbers are in for 2015, I am confident that we will see a year of immense improvement, setting the stage for a return of more normal conditions in the months to come. According to Realtor.com, home prices rose 5-7% nationally in 2015, this growth is very evident in Metro Atlanta. Despite these rising prices, affordability remained strong, as we ended 2015.”

    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.

    Info courtesy of Atlanta Board of REALTORS®

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