The Atlanta Board of REALTORS, the largest association of its kind in Georgia, released its January 2016 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.                                                                                             

Demand: January residential sales were at 2,694, an increase of 3.3% from the previous year.

Price: Average and median sales prices continue to gain traction and outpace 2015’s figures, with positive gains. The median sales price in January was $213,000, an increase of 9.2% from last January. The average sales price was $275,000, up 8.7% from the previous year.

Supply: Atlanta area housing inventory totaled 13,242 units in January, a decrease of 3.8% from January 2015. New listings totaled 4,077, down 6.8% from January 2015 and up 40.4%% from the previous month. The supply for sales over a 12 month period declined to 3.1 months.

A Word from 2016 ABR President Lane McCormack: “January was a signifier of the healthy home sales and prices that we are predicting in 2016. The housing momentum from December has continued into January and we are showing signs of entering an early spring.  Inventory is still a concern and is continuing to be one of the major hindrances to the overall market.”