Atlanta REALTORS® Releases December 2016 Statistics on Housing Market

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

Atlanta, GA (January 18, 2016) – (RealEstateRama) — Atlanta REALTORS® (ARA), the largest association of its kind in Georgia, released its December 2016 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.

Demand: November residential sales were at 4,086, a decrease of 6.2% 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 December was $239,000, an increase of 2.6% from last December. The average sales price was $300,000, up 2.7% from the previous year.

Supply: Atlanta area housing inventory totaled 14,738 units in December, an increase of 6.5% from December 2015. New listings totaled 2,824, down 2.8% from December 2015 and down 23.0% from the previous month. The month’s supply over a 12-month period decreased to 3.1 months.

A Word from 2017 Atlanta REALTORS® President Bill Rawlings: ​“Low inventory continued to be an issue for Metro Atlanta throughout 2016 with inventory still hovering at just over 3 month’s supply.  As a result Median Home prices continue to rise with a 6.2% increase over 2015 and overall, 2016 sales were 7.9% ahead of 2015.  This continues a trend of steady positive growth each month for the past 5 years.  While there are still concerns over potential interest rates, we remain bullish about the housing market outlook for 2017.”

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®
Reggie McCrary, Chief Executive Officer
Office:  404.732.0601
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