Atlanta Market Brief: February 2017

The February 2017 Market Report from the Atlanta REALTORS®  Association showed positive gains in price with continued decrease in supply in the Atlanta housing market.

A Word from 2017 Atlanta REALTORS® President Bill Rawlings:  “A trend of steady positive growth in the real estate market continues although low inventory continued for Metro Atlanta into 2017. Inventory has been hovering at just over three months of supply for several months. Although median home prices feel that pressure and continue to rise over last year’s median and average prices, a trend of steady positive growth continues. The real estate market is well positioned for the latest rise in interest rates, and it should remain strong well into 2017.”

Demand:  February residential sales were at 3,165, a decrease of 8.6% 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 February was $230,000, an increase of 6.5% from last February. The average sales price was $283,000, up 5.2% from the previous year.

Supply: Atlanta area housing inventory totaled 14,819 units in February, an increase of 13.6% from February, 2016. New listings totaled 4,023, down 4.1% from February, 2016 and down 2.0% from the previous month. The month’s supply over a 12-month period remained the same at 3.1 months.

With these Atlanta Metro sales figures in mind, remember that each neighborhood and “micro-market” in Atlanta may experience significantly different trends and sales statistics.  If you would like a more detailed market snapshot for your neighborhood, send us an email request at info@redrobingroup.com.  Wondering what your home is worth?  We’re happy to do a market evaluation for you: Get My Home’s Value.

This information is extracted directly from materials provided by the Atlanta REALTORS® Association

Archive:

Atlanta Market Brief: January 2017
Atlanta Market Brief: December 2016

Atlanta Market Brief: November 2016

Atlanta Market Brief: September 2016
Atlanta Market Brief: June 2016
Atlanta Market Brief: May 2016
Atlanta Market Brief: April 2016
Atlanta Market Brief : March 2016
Atlanta Market Brief: February 2016

posted: Apr 3, 2017 | No Responses

Posted by:  Shannon Sanders

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