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

                                       Sept, 2017    Sept, 2016    % Change
Total Home Sales                   4,517         4,906             -7.9%
Median Sales Price              $243,000       $228,000        6.6%
Average Sales Price             $301,000       $284,000        6.0%

Monthly Comparison

                                    Sept, 2017       August, 2017       % Change
Total Home Sales             4,517           5,555                -18.7%
Median Sales Price          $243,000    $248,000             -2.0%
Average Sales Price         $301,000    $306,000            -1.6%
 
Demand: September residential sales were at 4,517, a decrease of 7.9% 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 September was $243,000, an increase of 6.6% from last September. The average sales price was $301,000, up 6.0% from the previous year.    

Supply: Atlanta area housing inventory totaled 14,980 units in September, a decrease of 7.7% from September, 2016. New listings totaled 4,450, down 11.5% from September, 2016 and down 10.1% 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: “The summer cycle has ended, and prices have adjusted slightly downward as expected into the fall market. Sales continue to outpace new listings, however, maintaining a moderately tight supply of available homes over the last few months.”