Atlanta Market Brief: January 2017

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

marketbrief_Jan2017

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 three months of supply.  As a result, Median Home prices continue to rise over 2015 and overall, 2016 sales were also up from 2015.  This continues a trend of steady positive growth each month for the past five years.  With the economy overall showing signs of growth and consumer confidence on the rise, we remain bullish about the real estate market outlook for 2017.”

Demand: January residential sales were at 2,927, an increase of 0.4% 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 January was $225,000, an increase of 7.7% from last January. The average sales price was $282,000, up 2.5% from the previous year.

Supply: Atlanta area housing inventory totaled 14,705 units in January, an increase of 11.0% from January, 2016. New listings totaled 4,105, up 0.7% from January, 2016 and up 45.4% 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: 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: Feb 21, 2017 | No Responses

Posted by:  Shannon Sanders

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