Atlanta REALTORS, the largest association of its kind in Georgia, released its March 2018 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: March residential sales were at 4,838, a decrease of 10.2% from the previous year.

Price: Average and median sales prices continue to gain traction and outpace 2017’s figures, with positive gains. The median sales price in March was $268,000, an increase of 7.6% from last March. The average sales price was $326,000, up 7.9% from the previous year.

Supply: Atlanta area housing inventory totaled 11,639 units in March, a decrease of 26.5% from March, 2017. New listings totaled 4,898, down 13.4% from March, 2017 and up 23.6% from the previous month. The month’s supply over a 12-month period increased to 2.4 months.

A Word from 2018 Atlanta REALTORS President Bill Murray: “There’s no question that a majority of Atlanta homeowners have amassed considerable equity gains since the downturn. The expanding economy and job market are generating a healthy local demand, but the challenge of low inventory is having a short term effect on home values and this could have a significant impact on our market.”