The Atlanta Board of REALTORS, the largest association of its kind in Georgia, released its October 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 16,133 units in October, an increase of .2% from October 2014. New listings totaled 4,526, down 1.7% from October 2014 and down .04% from the previous month. The supply for sales over a 12 month period declined slightly, at 3.8.

Demand: October residential sales were at 3,926, an increase of 0.5% 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 October was $219,000, an increase of 6.8% from last October. The average sales price was $274,000, up 5.4% from the previous year.

A Word from ABR President Ennis Antoine:   “After several consistent months of housing trends, Atlanta real estate continued it positive momentum in October. Home prices and total sales remain on a steady upward slope compared to 2014.  Inventory is still hovering at a four month housing supply and expected to rebound slowly. The data and overall economic growth in the area creates confidence in this competitive, seasonally-based market.”