Atlanta REALTORS® Releases March 2018 Statistics on Housing Market
The Atlanta REALTORS® Market Brief examines sales, prices in 11-county metro area
Atlanta, GA (April 12, 2018) – Atlanta REALTORS® (ARA), the largest association of its kind in Georgia, released its March 2018 Market Brief on residential housing statistics for 11 area counties in metropolitan 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.
|March, 2018||March, 2017||% Change|
|Total Home Sales||4,838||5,387||-10.2%|
|Median Sales Price||$268,000||$249,000||7.6%|
|Average Sales Price||$326,000||$302,000||7.9%|
|March, 2018||Feb, 2018||% Change|
|Total Home Sales||4,838||3,702||30.7%|
|Median Sales Price||$268,000||$250,000||7.2%|
|Average Sales Price||$326,000||$303,000||7.6%|
Demand: March residential sales were at 4,838, a decrease of 10.2% 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 March was $268,000, an increase of 7.6% from last March. The average sales price was $326,000, up 7.9% from the previous year.
Supply: Atlanta area housing inventory totaled 11,639 units in March, a decrease of 26.5% from March, 2017. New listings totaled 4,898, down 13.4% from March, 2017 and up 23.6% from the previous month. The month’s supply over a 12-month period increased to 2.4 months.
Largest Metro Counties Sales Comparison
|Total Units Sold||Median Sales Price||Average Sales Price|
A Word from 2018 Atlanta REALTORS® President Bill Murray: “There’s no question that a majority of Atlanta homeowners have amassed considerable equity gains since the downturn. The expanding economy and job market are generating a healthy local demand, but the challenge of low inventory is having a short term effect on home values and this could have a significant impact on our market.”
The Atlanta REALTORS® Market Brief is designed to offer an overview of the Atlanta residential market by providing a synopsis of sales and home prices, and covers 11 counties: Cherokee, Clayton, Cobb, DeKalb, Douglas, Forsyth, Fulton, Gwinnett, Fayette, Henry and Paulding. Numbers in the reports are updated each month to reflect any additional recordings from the previous month. Each month, the numbers reported for the previous month are updated to reflect additional recordings.
For more information or details on the reports, please contact Atlanta REALTORS® at 404-250-0051.
About the ATLANTA REALTORS® Association:
The Atlanta REALTORS® (ARA, formerly the Atlanta Board of REALTORS®), is the voice of residential real estate in Metro Atlanta and has been an instrumental factor in the growth of real estate in the state of Georgia for more than a century. As the largest REALTOR® Association in Georgia, ARA serves as a central source of information for its members by focusing on real estate education, the promotion of professionalism in the industry and representing members with legislative initiatives to create positive change for the real estate community. While less than 50% of active real estate licensees in Georgia meet the requirements to become REALTORS®, they constitute 80% of the top producing agents. Membership in ARA is the hallmark of quality, professionalism and production.
First Multiple Listing Service, Inc. (FMLS) is the premier data services provider for real estate professionals in Georgia. FMLS was founded by a handful of real estate brokers in Atlanta in 1957. Today, membership is growing quickly and is spreading in every direction. Currently, FMLS has over 2,200 offices and serves more than 34,000 real estate agents. The FMLS listing database contains more than 34,000 active listings located all over Georgia and the Southeast.
Tripp Cook, Director of Communications & Public Relations
Reggie McCrary, Chief Executive Officer