The Atlanta REALTORS® Releases October 2016 Statistics on Housing Market

The Atlanta REALTORS® Market Brief examines sales, prices in 11-county metro area

Atlanta, GA (November 23, 2016) – (RealEstateRama) — The Atlanta REALTORS® (ARA), the largest association of its kind in Georgia, released its October 2016 Market Brief on residential housing statistics for 11 area counties 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.

Annual Comparison

October 2016

October 2015

% Change

Total Home Sales

4,105

4,115

-0.2%

Median Sales Price

$230,000

$216,000

6.5%

Average Sales Price

$286,000

$271,000

5.5%

Month to Month Comparison

October 2016

September 2016

% Change

Total Home Sales

4,105

4,851

-15.4%

Median Sales Price

$230,000

$229,000

0.4%

Average Sales Price

$286,000

$285,000

0.4%

Demand: October residential sales were at 4,105, a decrease of 0.2% from the previous year.

Price: Average and median sales prices continue to gain traction and outpace 2015’s figures, with positive gains. The median sales price in Octoberwas $230,000, an increase of 6.5% from last October. The average sales price was $286,000, up 5.5% from the previous year.

Supply: Atlanta area housing inventory totaled 15,839 units in October, a decrease of 1.8% from September 2015. New listings totaled 4,598, up 1.6% from October 2015 and down 8.6% from the previous month. The supply for sales over a 12 month period decreased to 3.4 months.

Largest Metro Counties Sales Comparison

Total Units Sold

Median Sales Price

Average Sales Price

Cobb

716

$230,000

$275,000

Dekalb

580

$225,000

$282,000

Fulton

749

$325,000

$413,000

Gwinnett

837

$212,000

$242,000

A Word from 2016 Atlanta REALTORS® President Lane McCormack: “Today’s buyer is wise to invest in homeownership as we are beginning to see a rise in home loan interest rates. Average sales price increased more than 5% year over year and inventory remains low. Therefore, it’s still a seller’s market in most areas of Atlanta.”

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.

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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.

About FMLS:

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 throughout Georgia and the Southeast. Currently, FMLS has over 2,100 offices and serves more than 33,000 real estate agents. The FMLS listing database contains more than 34,000 active listings located all over Georgia and the Southeast.

CONTACTS:

Atlanta REALTORS®
Daniel Beaird, Communications & PR Director
Office: 404.732.0651
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Reggie McCrary, Chief Executive Officer
Office:  404.732.0601
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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.

Contact:

Phone: 404.250.0051
Fax: 404.843.3402

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