Atlanta Market Brief

The May 2016 Market Report from the Atlanta Board of REALTORS® showed continued gains in the Atlanta housing market.

marketbriefmay2016

A Word from 2016 ABR President Lane McCormack: “May sales results continue to show a healthy increase in both closed units and average sales price.  Coupled with the April adjusted sales figures now reflecting a sales increase of 6.7% over the same time last year, the overall Atlanta market seems to be experiencing healthy growth and absorption of existing inventory.  In many markets in the city, inventory levels are still low relative to the demand, so I encourage you to reach out to your Realtor for a price evaluation should you be willing to consider selling your home by a professional.” 

Demand: May residential sales were at 5,289, and increase of 3.4% 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 May was $250,000, an increase of 4.2% from last May. The average sales price was $307,000, up 3.7% from the previous year.

Supply: Atlanta area housing inventory totaled 15,235 units in May, a decrease of 1.4% from May 2015. New listings totaled 5,428, up .4% from May 2015 and down 2.7% from the previous month. The supply for sales over a 12 month period increased to 3.4 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: April 2016
Atlanta Market Brief : March 2016
Atlanta Market Brief: February 2016