The Atlanta REALTORS® (ARA), the largest association of its kind in Georgia, released its January 2018 Market Brief on residential housing statistics in metro-Atlanta. The Market Brief, compiled by First Multiple Listing Service (FMLS), provides the only regionally focused synopsis of monthly sales and home prices for single family residential properties. Covers 11 counties: Cherokee, Clayton, Cobb, DeKalb, Douglas, Fayette, Forsyth, Fulton, Gwinnett, Paulding and Rockdale.
Demand: January residential sales were at 3,013, a decrease of 4.0% from the previous year.
Price: Average and median sales prices continue to gain traction and outpace 2017’s figures, with positive gains. The median sales price in January was $245,000, an increase of 9.9% from last January. The average sales price was $299,000, up 7.6% from the previous year.
Supply: Atlanta area housing inventory totaled 10,735 units in January, a decrease of 27.0% from January, 2017. New listings totaled 3,582, down 12.7% from January, 2017 and up 41.0% from the previous month. The month’s supply over a 12-month period decreased to 2.2 months.
A Word from 2018 Atlanta REALTORS® President Bill Murray: “Home sales began the year on a softer note, but January had a previous 12 month period of exceptional sales from new buyer demand,” said Murray. “However, new listings generally aren’t keeping up with what is sold very quickly, moving the year-over-year prices up in face of this tightening housing supply of just 2.2 months of inventory.”
The data in this report was compiled by First Multiple Listing Service (FMLS). For more information on details of this month’s report, please contact the Association at 404.250.0051.