Atlanta, GA – April 14 28, 2016 – (RealEstateRama) — The Atlanta Board of REALTORS® (ABR), the largest association of its kind in Georgia, released its March 2016 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.
Demand: March residential sales were at 4,530, an increase of 6.9% from the previous year.
Price: Average and median sales prices continue to gain traction and outpace 2015’s figures, with positive gains. The median sales price in March was $233,000, an increase of 7.4% from last March. The average sales price was $292,000, up 6.2% from the previous year.
Supply: Atlanta area housing inventory totaled 13,761 units in March, a decrease of 1.4% from March 2015. New listings totaled 5,298, up 8% from March 2015 and up 26.3% from the previous month. The supply for sales over a 12 month period increased to 3.1 months.
A Word from 2016 ABR President Lane McCormack: “Home sales are up by close to 40% in comparison to February, which is a great indicator of the robust spring market that we are experiencing. Home buyers and those who wish to refinance are seeing advantages in the low mortgage rates, unlocking numerous savings. I believe low rates and positive employment forecasts will contribute to active buyer demand, median and average sales prices accelerating and a strong housing market throughout Spring 2016.”
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.
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 throughout Georgia and the Southeast. Currently, FMLS has over 2,100 offices and serves more than 33,000 real estate agents. The FMLS listing database contains more than 34,000 active listings located all over Georgia and the Southeast.
Atlanta Board of REALTORS®
Jen Booth, Public Relations Coordinator
Reggie McCrary, Chief Executive Officer