Atlanta Realtors Market Brief


Atlanta Realtors Market Brief

Atlanta Realtors Association Market Brief

Atlanta Housing Market – November 2016

Demand

November residential sales were at 3,984, an increase of 20.1% from the previous year.

Price

Average and median sales prices continue to gain traction and outpace 2015’s figures, with positive gains. The median sales price in November was $235,000, an increase of 6.8% from last November. The average sales price was $295,000, up 5.4% from the previous year.

Supply

Atlanta area housing inventory totaled 15,655 units in November, an increase of 2.9% from November 2015. New listings totaled 3,665, up 5.5% from November 2015 and down 20.3% from the previous month. The month’s supply over a 12-month period decreased to 3.3 months.

2016 Atlanta REALTORS® President Lane McCormack

“Despite the continued low inventory, total home sales in metro Atlanta exceeded expectations with an increase of more than 20% over 2015. This increase was partially due to buyers’ concerns over the potential rise in interest rates in the upcoming months and uncertainty over the Presidential election. We continue to see a seller’s market in most locations with inventory still hovering at just over 3 month’s supply.”