Atlanta REALTORS, the largest association of its kind in Georgia, released its January 2017 Market Brief on residential housing statistics for 11 area counties in metropolitan Atlanta. The Market Brief, compiled by First Multiple Listing Service, provides the only regionally-focused synopsis of monthly sales and home prices for single family residential properties.     

Demand: January residential sales were at 2,927, an increase of 0.4% 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 January was $225,000, an increase of 7.7% from last January. The average sales price was $282,000, up 2.5% from the previous year.

Supply: Atlanta area housing inventory totaled 14,705 units in January, an increase of 11.0% from January, 2016. New listings totaled 4,105, up 0.7% from January, 2016 and up 45.4% from the previous month. The month’s supply over a 12-month period remained the same at 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 three months of supply.  As a result, Median Home prices continue to rise over 2015 and overall, 2016 sales were also up from 2015.  This continues a trend of steady positive growth each month for the past five years.  With the economy overall showing signs of growth and consumer confidence on the rise, we remain bullish about the real estate market outlook for 2017."