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

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