Atlanta REALTORS, the largest association of its kind in Georgia, released its May 2017 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: May residential sales were at 5,860, an increase of 0.1% from the previous year.
 
Price: Average and median sales prices continue to gain traction and outpace 2016’s figures, with positive gains. The median sales price in May was $258,000, an increase of 4.9% from last May. The average sales price was $323,000, up 6.3% from the previous year.            
 
Supply: Atlanta area housing inventory totaled 14,658 units in May, a decrease of 3.8% from May, 2016. New listings totaled 5,568, up 2.6% from May, 2016 and up 10.4% from the previous month. The month’s supply over a 12-month period increased to 3.1 months.            
 
A Word from 2017 Atlanta REALTORS President Bill Rawlings: “The housing market shows ongoing strength, with prices steadily improving and inventory generally maintaining about three months supply. New buyers and sellers continue to enter the market in increasing numbers, although homes under $400,000 in highly desirable school districts are currently in short supply.”   
 
The Atlanta REALTORS 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.