ABR: Sales Price Continues Double-Digit Jumps in March

by Peter Thomas Ricci

Atlanta’s median sales price continued its impressive rise, according to new ABR numbers.

The median sales price for single-family home transactions in the 11-county Atlanta area rose 13.9 percent from February to March and 16.9 percent from March 2013, according to the latest number crunching over at the ABR.

That continues the Atlanta area’s surging recovery in price, which has seen the region bounce back from double-digit declines to some of the strongest increases in the nation.

Atlanta Home Sales Still Inconsistent

ABR’s findings on Atlanta’s home sales were a bit more inconsistent, though positive in nature. From February to March, single-family home sales rose 20.2 percent to 3,255, though that was still 12.6 percent below March 2013’s sales total.

The monthly increase, though, signifies good things for the market, according to ABR President Todd Emerson.

“The month over month increases in single family residential sales signals the entrance of a robust spring housing market. In addition, average sales prices continue to rise both year over year and month over month as a result of continued buyer demand and favorable interest rates,” Emerson said. “As this trend continues we expect inventory levels to continue climbing from their historically low levels, as Seller confidence continues to escalate as sales prices continue rising.”

Here are a couple graphs from ABR that further flesh out the area’s trends:

abr-total-sales abr-median-price

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