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ABR: Median Sales Price Just Keeps Jumping in the ATL

by Peter Thomas Ricci

Though home sales remained schismatic, median sales price continued to rise in the Atlanta area, according to new ABR numbers.

May was another month of rockin’ price increases for the 11-county Atlanta area, according to the latest statistical analysis by the Atlanta Board of Realtors.

Median sales price for the month was $226,000, an increase of 8.7 percent from April and 13.6 percent from May 2013. In a remarkable change of fortune, prices in Atlanta have more than doubled from their post-bubble low in early 2012, as this graph from ABR plainly shows:

median-sales-price-atlanta-abr

Home Sales Showing Good Signs?

Relatively speaking, ABR’s findings on home sales were a bit less consistent. Though sales were up 11.4 percent from April to a total of 4,317, that was still down 9.6 percent from May 2013; meanwhile, at 15,242 active listings, housing inventory remains historically low at 4.1 months.

Todd Emerson, ABR’s current president, said that the trends do point to a stable market, one with more balance for buyers and sellers.

“The Atlanta real estate market continues to display signs of stable growth, which is good news for both buyers and sellers,” Emerson said. “The double digit year over year median price increase is bringing more ‘would be’ sellers to the market who were once underwater due to lower average sale prices and market values. As inventory levels continue to rise it creates more selection and opportunities for buyers either currently in the market or considering a home purchase in the near future.”

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