Atlanta Market Brief: March 2017

The March 2017 Market Report from the Atlanta REALTORS®  Association showed positive gains in price with slight increase in supply in the Atlanta housing market.

A Word from 2017 Atlanta REALTORS® President Bill Rawlings: “We saw a big jump in the number of properties under contract in March over the prior two months, and we feel we are poised for a very strong Spring market despite the shortage of inventory in some local areas.”

Demand: March residential sales were at 4,896, an increase of 2.3% 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 March was $250,000, an increase of 8.7% from last March. The average sales price was $307,000, up 6.2% from the previous year.

Supply: Atlanta area housing inventory totaled 15,838 units in March, an increase of 15.1% from March, 2016. New listings totaled 5,656, up 6.8% from March, 2016 and up 40.6% from the previous month. The month’s supply over a 12-month period remained the same at 3.3 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: February 2017
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 27, 2017 | No Responses