The Atlanta REALTORS, the largest association of its kind in Georgia, released its August 2016 Market Brief on residential housing statistics for 11 area counties in metro-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: August residential sales were at 5,180, a decrease of 5.5% 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 August was $242,000, an increase of 8.5% from last August. The average sales price was $306,000, up 6.6% from the previous year.

Supply: Atlanta area housing inventory totaled 15,994 units in August, a decrease of 4.9% from August 2015. New listings totaled 4,883, up 2.2% from August 2015 and down 6.1% from the previous month. The supply for sales over a 12 month period decreased to 3.5 months.

A Word from 2016 Atlanta REALTORS President Lane McCormack:  “The Atlanta metro housing market remains robust through the summer months. Inventory remains low amid great demand. Average sales price shows a 6% increase over prior year. Unit sales have increased by 3.7%. Buyers remain engaged and active in the market with remaining low interest rates. Now is the time to utilize a REALTOR for your housing success!”