As we head into 2015 Atlanta has a lot to look forward to. The real estate market has seen steady increases in home sale prices and nearly a double digit percentage increase in average sales price since 2013!
Zana Dillard of Dillard & Company Realty Group says, “We are seeing an increase in homes on the market from Atlanta to Smyrna, as well as, more luxury homes for sale at higher prices than we have seen over the past few years! I expect this to be another year of increased home values and sales prices as well as more buyers entering the market.”
Market Update From Atlanta Board of REALTORS®
Supply: Atlanta area housing inventory totaled 14,252 units in December, an increase of 30.6% from December 2013. New listings totaled 2,840, up 11.2% from December 2013 and down 18% from the previous month. The supply for sales over a 12 month period declined slightly to 3.8 months.
Demand: December residential sales were at 3,538, a decrease of .2% from the previous year. Year-to-date sales are .9% lower than in 2013.
Price: Average and median sales prices continue to gain traction and outpace 2013’s figures, with positive gains. The median sales price in December was $212,000, an increase of 9.3% from last December. The average sales price was $274,000, up 9.2% from the previous year.
A Word from ABR President Ennis Antoine: “It has been another recovery year for the Atlanta home market as well as the economy. Home prices in 2014 were especially strong. I expect them to continue to accelerate in 2015, but at a tempered pace, allowing homes to remain affordable for first-time buyers. Inventory is rising because sellers are capitalizing on recent appreciation and listing more properties. There is a lot of discussion regarding potential change in interest rates, but with virtually no inflation, rates will likely remain low for most of 2015. These reasons along with positive economic forecasts lead me to believe Atlanta will have an extremely healthy and strong 2015 real estate market.”