Atlanta REALTORS, the largest association of its kind in Georgia, released its December 2016 Market Brief on residential housing statistics for 11 area counties in metropolitan 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: November residential sales were at 4,086, a decrease of 6.2% 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 December was $239,000, an increase of 2.6% from last December. The average sales price was $300,000, up 2.7% from the previous year.

Supply: Atlanta area housing inventory totaled 14,738 units in December, an increase of 6.5% from December 2015. New listings totaled 2,824, down 2.8% from December 2015 and down 23.0% from the previous month. The month’s supply over a 12-month period decreased to 3.1 months.

A Word from 2017 Atlanta REALTORS President Bill Rawlings: “Low inventory continued to be an issue for Metro Atlanta throughout 2016 with inventory still hovering at just over 3 month’s supply.  As a result Median Home prices continue to rise with a 6.2% increase over 2015 and overall, 2016 sales were 7.9% ahead of 2015.  This continues a trend of steady positive growth each month for the past 5 years.  While there are still concerns over potential interest rates, we remain bullish about the housing market outlook for 2017."