Atlanta REALTORS, the largest association of its kind in Georgia, released its July 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.

Annual Comparison

                              July, 2017    July, 2016    % Change
Total Home Sales          5,223         5,572         -6.3%
Median Sales Price       $259,000    $247,000    4.9%
Average Sales Price      $321,000    $305,000    5.3%

Monthly Comparison

                                July, 2017    June, 2017    % Change
Total Home Sales            5,223           6,301       -17.1%
Median Sales Price          $259,000    $265,000    -2.3%
Average Sales Price        $321,000    $325,000    -1.2%

Demand: July residential sales were at 5,223, a decrease of 6.3% 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 July was $259,000, an increase of 4.9% from last July. The average sales price was $321,000, up 5.3% from the previous year.    

Supply: Atlanta area housing inventory totaled 15,701 units in July, a decrease of 4.9% from July, 2016. New listings totaled 5,165, down 0.7% from July, 2016 and down 9.5% from the previous month. The month’s supply over a 12-month period increased to 3.3 months.    

A Word from 2017 Atlanta REALTORS® President Bill Rawlings: “Home values are rising at reasonable levels, and the Atlanta market has stayed accessible to both buyers and sellers. The local market has consistently had around a three-months’ supply for the past year, with sale prices improving reliably yet without the rapid acceleration of some other major cities.”