The ABR Market Brief examines sales, prices in 11-county metro area
Atlanta, GA – June 16, 2015 – (RealEstateRama) — The Atlanta Board of REALTORS® (ABR), the largest association of its kind in Georgia, released its May 2015 Market Brief on residential housing statistics for 11 area counties in metro-Atlanta. Market Brief, now compiled by First Multiple Listing Service (FMLS), provides the only regionally focused synopsis of monthly sales and home prices for single family residential properties.
Supply: Atlanta area housing inventory totaled 15,446 units in May, an increase of 1.3% from May 2014. New listings totaled 5,405, up 1.1% from May 2014 and down 0.3% from the previous month. The supply for sales over a 12 month period was steady at 3.9.
Demand: May residential sales were at 4,584, a decrease of 3.3% from the previous year.
Price: Average and median sales prices continue to gain traction and outpace 2014’s figures, with positive gains. The median sales price in May was $240,000, an increase of 7.6% from last May. The average sales price was $299,000, up 5.7% from the previous year.
A Word from ABR President Ennis Antoine: “Inventory levels have seen a slight rise in May, suggesting that people are finding replacement housing easier and listing their existing homes. Buyers are better informed about pricing and when the right property comes along, they are jumping on it. Now is a great time for Atlanta REALTORS® and I expect that sales will continue to rise during the summer, partly due to rising consumer confidence, overall housing affordability and job gains.”
The ABR 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 ABR at 404-250-0051.
ABOUT THE ATLANTA BOARD OF REALTORS®:
The Atlanta Board of REALTORS® (ABR) 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, ABR 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 ABR is the hallmark of quality, professionalism and production.
Atlanta Board of REALTORS®
Jen Booth, Public Relations Coordinator
Reggie McCrary, Executive Vice President