The Atlanta Board of REALTORS, the largest association of its kind in Georgia, released its July 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 16,709 units in July, an increase of 1.4% from July 2014. New listings totaled 5,584, up 9.2% from July 2014 and up 15% from the previous month. The supply for sales over a 12 month period was steady at 4.1.

Demand: July residential sales were at 5,214, an increase of 8.7% 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 July was $239,000, an increase of 6.2% from last July. The average sales price was $300,000, up 4.2% from the previous year.

A Word from ABR President Ennis Antoine: “Housing prices continue to rise as inventory remains low and in demand. Low rates continue to attract buyers driving the market percentage closing increase year over year by 17.1%. The Atlanta job market remains strong and will continue to drive the demand for housing."

The ABR Market Brief is designed to offer an overview of the Atlanta residential market by providing a synopsis of sales and home prices, and covers 11 counties: Cherokee, Clayton, Cobb, DeKalb, Douglas, Forsyth, Fulton, Gwinnett, Fayette, Henry and Paulding.  Numbers in the reports are updated each month to reflect any additional recordings from the previous month. Each month, the numbers reported for the previous month are updated to reflect additional recordings.

For more information or details on the reports, please contact ABR at 404-250-0051.