The Atlanta REALTORS® Releases November 2016 Statistics on Housing Market

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

Atlanta, GA (December 20, 2016) – (RealEstateRama) — The Atlanta REALTORS® (ARA), the largest association of its kind in Georgia, released its November 2016 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.

 ARA

November 2016 November 2015 % Change
Total Home Sales 3,984 3,316 20.1%
Median Sales Price $235,000 $220,000 6.8%
Average Sales Price $295,000 $280,000 5.4%
November 2016 October 2016 % Change
Total Home Sales 3,984 4,301 -7.4%
Median Sales Price $235,000 $230,000 2.2%
Average Sales Price $295,000 $285,000 3.5%

Demand: November residential sales were at 3,984, an increase of 20.1% 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 November was $235,000, an increase of 6.8% from last November. The average sales price was $295,000, up 5.4% from the previous year.
Supply: Atlanta area housing inventory totaled 15,655 units in November, an increase of 2.9% from November 2015. New listings totaled 3,665, up 5.5% from November 2015 and down 20.3% from the previous month. The month’s supply over a 12-month period decreased to 3.3 months.

Total Units Sold Median Sales Price Average Sales Price
Cobb 674 $246,000 $285,000
Dekalb 586 $268,000 $321,000
Fulton 686 $355,000 $434,000
Gwinnett 884 $205,000 $214,000

A Word from 2016 Atlanta REALTORS® President Lane McCormack: “Despite the continued low inventory, total home sales in metro Atlanta exceeded expectations with an increase of more than 20% over 2015.  This increase was partially due to buyers’ concerns over the potential rise in interest rates in the upcoming months and uncertainty over the Presidential election.  We continue to see a seller’s market in most locations with inventory still hovering at just over 3 month’s supply.”
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®
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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