The Atlanta REALTORS® (ARA), the largest association of its kind in Georgia, released its April 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. This summary covers 11 counties: Cherokee, Clayton, Cobb, DeKalb, Douglas, Fayette, Forsyth, Fulton, Gwinnett, Paulding and Rockdale.
Demand: April residential sales were at 4,965, an increase of 1.8% 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 April was $274,000, an increase of 8.7% from last April. The average sales price was $333,000, up 5.7% from the previous year.
Supply: Atlanta area housing inventory totaled 12,283 units in April, a decrease of 11.0% from April, 2017. New listings totaled 4,928, down 2.3% from April, 2017 and up 0.6% from the previous month. The month’s supply over a 12-month period increased to 2.5 months.
A Word from 2018 Atlanta REALTORS® President Bill Murray: “Atlanta housing inventory ticked up slightly in April over the previous month, but the local market has 11% fewer listings for buyers than this time last year. Healthy economic conditions are creating considerable demand for purchasing a home, but not all buyers are finding affordable choices from the homes that are available.”
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.
*Each month, the numbers reported for the previous month are updated to reflect additional recordings.