The Atlanta REALTORS® (ARA), the largest association of its kind in Georgia, released its February 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: February residential sales were at 3,384, a decrease of 3.8% 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 February was $250,000, an increase of 10.1% from last February. The average sales price was $306,000, up 10.1% from the previous year.
Supply: Atlanta area housing inventory totaled 11,066 units in February, a decrease of 25.3% from February, 2017. New listings totaled 3,962, down 1.5% from February, 2017 and up 10.6% from the previous month. The month’s supply over a 12-month period increased to 2.3 months.
A Word from 2018 Atlanta REALTORS® President Bill Murray: “Steady positive growth has been the trend for Metro Atlanta although low inventory continues to be an issue into 2018. Median and average prices are reflecting that pressure and continue to rise over last year’s prices, but nationally Atlanta is in the top tier of affordable regions in the country.”