As we roll into the latter part of the first quarter of 2015. Atlanta’s real estate market has continued to pick up the pace, and with news of the Mercedes Benz USA corporate headquarters moving to area along with many large corporations adding jobs to the Atlanta economy the signals point to an even better second quarter. Below we have put together some details courtesy of Atlanta Board of REALTORS® on a recap of the current market and what to expect moving forward.
Supply: Atlanta area housing inventory totaled 13,759 units in January, an increase of 13.6% from January 2014. New listings totaled 4,374, up 17.2% from January 2014 and up 54% from the previous month. The supply for sales over a 12 month period was steady at 3.7.
Demand: January residential sales were at 2,395, a decrease of 9.7% 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 January was $203,000, an increase of 13.4% from last January. The average sales price was $258,000, up 10.7% from the previous year.
A Word from ABR President Ennis Antoine
“Investors bought fewer homes in the month of January, which accounted for the decline in sales, but that meant traditional sales made up a larger proportion of the market. Traditional sales tend to come at higher prices,” said ABR President Ennis Antoine. “Low interest rates, rising sale prices, economic expansion and balanced inventory support my expectation that the market will continue its strong and steady growth. I believe the dynamic economic recovery we are seeing is going to have a major impact on the 2015 Atlanta housing market.”
For more information on Atlanta’s current market contact Dillard & Company Realty Group today and if you want to search current homes on the Atlanta market FREE click here.