The Atlanta Board of REALTORS, the largest association of its kind in Georgia, released its November 2015 Market Brief on residential housing statistics for 11 area counties in metro-Atlanta.  Market Brief, now compiled by First Multiple Listing Service, provides the only regionally focused synopsis of monthly sales and home prices for single family residential properties.                                                                                            

Supply: Atlanta area housing inventory totaled 15,220 units in November, a decrease of 1.7% from November 2014. New listings totaled 3,473, down .8% from November 2014 and down 23.3% from the previous month. The supply for sales over a 12 month period declined slightly, at 3.6.

Demand: November residential sales were at 3,056, a decrease of 0.1% 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 November was $224,000, an increase of 9.3% from last November. The average sales price was $283,000, up 7.2% from the previous year.

Largest Metro Counties November Sales Comparison

A Word from ABR President Ennis Antoine: “School, weather and the holidays all have an impact on the total number of sales and inventory going into the winter season. What we are experiencing is a historically normal housing market in the fall. Average and median sales prices remain firm, continuing to increase in comparison to 2014 and also up from the previous month. As prices continue to rise, it will encourage more sellers to enter the market. Atlanta has been named one of the top 10 markets to watch going into 2016 by NAR and my prediction is that by February, we will begin to see activity pick back up in overall sales and inventory listings.”