Demand: May residential sales were at 5,860, an increase of 0.1% from the previous year.
Price: Average and median sales prices continue to gain traction and outpace 2016’s figures, with positive gains. The median sales price in May was $258,000, an increase of 4.9% from last May. The average sales price was $323,000, up 6.3% from the previous year.
Supply: Atlanta area housing inventory totaled 14,658 units in May, a decrease of 3.8% from May, 2016. New listings totaled 5,568, up 2.6% from May, 2016 and up 10.4% from the previous month. The months supply over a 12-month period increased to 3.1 months.
A Word from 2017 Atlanta REALTORS® President Bill Rawlings: “The housing market shows ongoing strength, with prices steadily improving and inventory generally maintaining about three month’s supply. New buyers and sellers continue to enter the market in increasing numbers, although homes under $400,000 in highly desirable school districts are currently in short supply.”