Atlanta REALTORS® Releases November 2017 Statistics on Housing Market

Atlanta REALTORS® Releases November 2017 Statistics on Housing Market

Atlanta, GA (December 14, 2017) – (RealEstateRama) — Atlanta REALTORS® (ARA), the largest association of its kind in Georgia, released its November 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
Nov, 2017 Nov, 2016 % Change
Total Home Sales 4,023 4,267 -5.7%
Median Sales Price $248,000 $233,000 6.4%
Average Sales Price $306,000 $292,000 4.8%
Monthly Comparison
Nov, 2017 Oct, 2017 % Change
Total Home Sales 4,023 4,535 -11.3%
Median Sales Price $248,000 $242,000 2.5%
Average Sales Price $306,000 $303,000 1.0%
 
Demand: November residential sales were at 4,023, a decrease of 5.7% 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 November was $248,000, an increase of 6.4% from last November. The average sales price was $306,000, up 4.8% from the previous year.
Supply: Atlanta area housing inventory totaled 13,116 units in November, a decrease of -16.2% from November, 2016. New listings totaled 3,504, down 4.4% from November, 2016 and down 20.4% from the previous month. The month’s supply over a 12-month period decreased to 2.7 months.
Largest Metro Counties Sales Comparison

Total Units Sold

Med Sales Price

Ave Sales Price

Cobb

720

$261,000

$304,000

DeKalb

553

$249,000

$312,000

Fulton

720

$332,000

$438,000

Gwinnett

829

$226,000

$257,000

A Word from 2017 Atlanta REALTORS® President Bill Rawlings: “The Atlanta market had fewer sales than a year ago, largely due to lower levels of inventory for prospective buyers. These inventory levels are also keeping prices higher during these fall and winter months. The seasonal decline in inventory we are seeing will likely continue to add to competitive conditions through the winter.”

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® Association
Tripp Cook, Director of Communications & Public Relations
Office: 404.732.0651

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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