Demand: September residential sales were at 4,517, a decrease of 7.9% 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 September was $243,000, an increase of 6.6% from last September. The average sales price was $301,000, up 6.0% from the previous year.
Supply: Atlanta area housing inventory totaled 14,980 units in September, a decrease of 7.7% from September, 2016. New listings totaled 4,450, down 11.5% from September, 2016 and down 10.1% from the previous month. The month’s supply over a 12-month period decreased to 3.1 months.
A Word from 2017 Atlanta REALTORS® President Bill Rawlings: “The summer cycle has ended, and prices have adjusted slightly downward as expected into the fall market. Sales continue to outpace new listings, however, maintaining a moderately tight supply of available homes over the last few months.”