Atlanta REALTORS® Releases October 2017 Statistics on Housing Market

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

Atlanta, GA (November 14, 2017) – (RealEstateRama) — Atlanta REALTORS® (ARA), the largest association of its kind in Georgia, released its October 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.

ARA

Annual Comparison

Oct, 2017 Oct, 2016 % Change
Total Home Sales 4,387 4,335 1.2%
Median Sales Price $243,000 $230,000 5.7%
Average Sales Price $305,000 $284,000 7.4%

Monthly Comparison

Oct, 2017 Sept, 2017 % Change
Total Home Sales 4,387 4,786 -8.3%
Median Sales Price $243,000 $242,000 0.4%
Average Sales Price $305,000 $300,000 1.7%

Demand: October residential sales were at 4,387, an increase of 1.2% 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 October was $243,000, an increase of 5.7% from last October. The average sales price was $305,000, up 7.4% from the previous year.

Supply: Atlanta area housing inventory totaled 14,200 units in October, a decrease of -10.4% from October, 2016. New listings totaled 4,402, down 4.3% from October, 2016 and down 1.1% from the previous month. The month’s supply over a 12-month period decreased to 2.9 months.

Largest Metro Counties Sales Comparison

Total Units Sold

Med Sales Price

Ave Sales Price

Cobb

738

$265,000

$308,000

DeKalb

593

$235,000

$295,000

Fulton

830

$324,000

$427,000

Gwinnett

927

$228,000

$257,000

A Word from 2017 Atlanta REALTORS® President Bill Rawlings: “Sales continue to be strong, and prices are staying comparable to the past few months. However, prices are up over last year and our supply of homes is getting tighter. Active listings are down 10% in the Atlanta market from this time last year, which may point prices higher during the upcoming slower winter months.”

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

Tripp Cook
Communications & PR Director
404.732.0651 :

Atlanta REALTORS® Association
5784 Lake Forrest Dr. : Atlanta, GA 30328
404.250.0051 : www.atlantarealtors.com

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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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