A detailed look at 4 of Metro Atlanta’s top housing markets

by Peter Thomas Ricci

cumming-city-hall-georgia-atlanta-housing-market

The December housing market was a mixed bag for the Metro Atlanta housing market, according to a new report from RE/MAX of Georgia.

For the month, close transactions in the area declined 1 percent year-over-year to 3,908, while median sales price continued to rise, climbing 6 percent to $222,130. Interestingly, although sales were down, time on market declined, falling 3 percent to 59 days.

Additionally, RE/MAX of Georgia spotlighted four of Metro Atlanta’s top housing markets, and below, we have charted out three sets of stats about those marketplaces:

Home Sales

Although sales for Metro Atlanta were down 1 percent, the declines were much more dramatic in the four communities RE/MAX of Georgia highlighted, with the city of Atlanta leading the way with its 19.56-percent decline.

Market Dec. 2015 Sales Dec. 2016 Sales YOY Change
Atlanta 593 477 -19.56%
Marietta 298 281 -5.71%
Lawrenceville 242 205 -15.29%
Cumming 248 217 -12.5%

Median Sales Price

Meanwhile, median sales price continued to rise, especially in the Lawrenceville and Cumming markets, where prices were up double digits:

Market Dec. 2015 Median Sales Price Dec. 2016 Median Sales Price YOY Change
Atlanta $299,900 $300,000 0%
Marietta $252,250 $267,000 6%
Lawrenceville $176,895 $201,000 14%
Cumming $275,158 $315,000 12.5%

Days on Market

Finally, the days on market for Atlanta rose 11.11 percent, which is not entirely surprising, given the steep decline in sales. And although sales were also down in the Marietta, Lawrenceville and Cumming markets, market time also dropped:

Market Dec. 2015 Days on Market Dec. 2016 Days on Market YOY Change
Atlanta 54 60 11.11%
Marietta 56 51 -8.93%
Lawrenceville 63 52 -17.46%
Cumming 74 71 -4.05%