Which counties have the worst housing shortage in Metro Atlanta? We looked through the latest stats from GeorgiaMLS to find out.
1. Cobb County – At just 2.94-months supply, Cobb’s housing inventory is half of what it should be, and is down nearly 7 percent from where it was a year ago; by no coincidence, the county’s median sales price is up nearly 10 percent to $236,000.
2. Gwinnett County – The No. 2 selling county in Metro Atlanta also has the second-worst level of inventory at 2.99-months. That is down 16.48 percent from last year, and median price is up 8.75 percent to $205,000.
Curious why inventory is so low? Read our analysis here.
3. DeKalb County – Housing supply in DeKalb finished August at 3.08 months, a 10.98-percent drop from last year. Median sales price is still low at $192,000, but it is up 5.38 percent year-over-year.
4. Fayette County – The one curiosity in the lineup was Fayette. Although inventory is very low at 3.27 percent (and has fallen 17.01 percent from Aug. 2015), median sale price declined 3.26 percent to $261,200; given how higher-priced listings have languished in recent months, though, the higher-end market may be to blame for that price decline.
5. Cherokee County – Closing out the top five is Cherokee, where inventory is down 14.40 percent to the current 3.27-months supply. Median sales price has risen dramatically, leaping 17.75 percent to $240,500.
For more perspective, check out our chart below, which details Atlanta’s 10 largest counties; note that the average inventory between them is just 3.44-months.
|County||Housing Supply||YOY Change||Median Sales Price||YOY Change|