The Atlanta Board of REALTORS, the largest association of its kind in Georgia, released its February 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: February residential sales were at 3,246, an increase of 6.1% 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 February was $216,000, an increase of 4.4% from last February. The average sales price was $273,000, up 4.6% from the previous year.

Supply: Atlanta area housing inventory totaled 13,046 units in February, a decrease of 4.2% from February 2015. New listings totaled 4,196, down 5.6% from February 2015 and up 2.3% from the previous month. The supply for sales over a 12 month period declined to 3.0 months.

A Word from 2016 ABR President Lane McCormack: “The February report proves that the housing market is in great shape for 2016. The steady increase in prices is anticipated with the tight inventory supply in Atlanta. We are expecting this upward trend to continue, both in price and sales as we progress through spring.”

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.