Supply: Atlanta area housing inventory totaled 16,709 units in July, an increase of 1.4% from July 2014. New listings totaled 5,584, up 9.2% from July 2014 and up 15% from the previous month. The supply for sales over a 12 month period was steady at 4.1.
Demand: July residential sales were at 5,214, an increase of 8.7% 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 July was $239,000, an increase of 6.2% from last July. The average sales price was $300,000, up 4.2% from the previous year.
A Word from ABR President Ennis Antoine: “Housing prices continue to rise as inventory remains low and in demand. Low rates continue to attract buyers and the Atlanta job market remains strong and will continue to drive the demand for housing.”