Atlanta Market Brief: September 2016

The September 2016 Market Report from the Atlanta REALTORS®  Association showed continued gains in the Atlanta housing market.

market-brief-september-2016

A Word from 2016 ARA President Lane McCormack: Inventory remains near an all-time low with an average days on market of residential property at 3.5 months. With sales continuing above 2015 levels and prices up 4.3% year over year, it remains a seller’s market in many locations.  As we enter the last quarter, sellers should consult a Realtor for the opportunity to capture equity in their home! Buyers should understand, with a lack of inventory, the market will remain tight with increasing prices until more inventory is available. There is not a better time than now to consult a Realtor for your housing needs.” 

Demand: September residential sales were at 4,383, a decrease of 1.9% 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 September was $230,000, an increase of 6.0% from last September. The average sales price was $289,000, up 4.3% from the previous year.

Supply: Atlanta area housing inventory totaled 16,222 units in September, a decrease of 1.8% from September 2015. New listings totaled 5,031, up 11.1% from September 2015 and up 3.0% from the previous month. The supply for sales over a 12 month period remained at 3.5 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

Archive:

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: Oct 21, 2016 | No Responses

Posted by:  Kate Furukawa

An East Atlanta resident of 12 years, and quite familiar with and active in many intown neighborhoods, Kate lives with her husband Dave and son William. Let's find your new home!

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