Atlanta REALTORS® Releases May 2017 Statistics on Housing Market

Atlanta REALTORS® Releases May 2017 Statistics on Housing Market

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

Atlanta, GA (June 15, 2017) –- (RealEstateRama) — Atlanta REALTORS® (ARA), the largest association of its kind in Georgia, released its May 2017 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.

Annual Comparison

May, 2017

May, 2016

% Change

Total Home Sales

5,860

5,853

0.1%

Median Sales Price

$258,000

$246,000

4.9%

Average Sales Price

$323,000

$304,000

6.3%

Monthly Comparison

May, 2017

April, 2017

% Change

Total Home Sales

5,860

4,838

21.1%

Median Sales Price

$258,000

$253,000

2.0%

Average Sales Price

$323,000

$315,000

2.5%

Demand: May residential sales were at 5,860, an increase of 0.1% from the previous year.

Price: Average and median sales prices continue to gain traction and outpace 2016’s figures, with positive gains. The median sales price in May was $258,000, an increase of 4.9% from last May. The average sales price was $323,000, up 6.3% from the previous year.

Supply: Atlanta area housing inventory totaled 14,658 units in May, a decrease of 3.8% from May, 2016. New listings totaled 5,568, up 2.6% from May, 2016 and up 10.4% from the previous month. The month’s supply over a 12-month period increased to 3.1 months.

Largest Metro Counties Sales Comparison

Total Units Sold

Median Sales Price

Average Sales Price

Cobb

1038

$270,000

$320,000

DeKalb

804

$290,000

$337,000

Fulton

1102

$373,000

$462,000

Gwinnett

1207

$232,000

$262,000

Atlanta REALTORS® Association

A Word from 2017 Atlanta REALTORS® President Bill Rawlings: “The housing market shows ongoing strength, with prices steadily improving and inventory generally maintaining about three months supply. New buyers and sellers continue to enter the market in increasing numbers, although homes under $400,000 in highly desirable school districts are currently in short 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. 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.

CONTACTS:

Atlanta REALTORS®
Tripp Cook, Director of Communications & Public Relations
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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