Atlanta REALTORS® Releases February 2018 Statistics on Housing Market

Atlanta REALTORS® Releases February 2018 Statistics on Housing Market

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

\Atlanta, GA (March 13, 2018) – (RealEstateRama) — Atlanta REALTORS® (ARA), the largest association of its kind in Georgia, released its February 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.

Feb, 2018 Feb, 2017 % Change
Total Home Sales 3,384 3,517 -3.8%
Median Sales Price $250,000 $227,000 10.1%
Average Sales Price $306,000 $278,000 10.1%
Feb, 2018 Jan, 2018 % Change
Total Home Sales 3,384 3,150 7.4%
Median Sales Price $250,000 $244,000 2.5%
Average Sales Price $306,000 $298,000 2.7%

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.

Total Units Sold

Med Sales Price

Ave Sales Price

Cobb

580

$262,000

$298,000

DeKalb

449

$257,000

$303,000

Fulton

645

$304,000

$404,000

Gwinnett

662

$233,000

$278,000

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.”

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.

About FMLS: