Atlanta homes sales and prices increase, indicating strong spring

by Rincey Abraham

 

Home sales and prices continued to grow in Atlanta, according to Atlanta REALTORS®’ March 2017 market brief.

Total home sales were at 4,896 in March 2017, up 2.3 percent compared to March 2016 and up 15.5 percent compared to February 2017. The total Atlanta area housing inventory totaled 15,838, which is a 15.1 percent increase from last year, and a total of 5,656 new listings, a 6.8 percent increase from last year.

New listings are also up 40.6 percent from February 2017, and total home sales are up 41.3 percent compared to February 2017. This indicates a potentially strong spring sales period for Atlanta.

“We saw a big jump in the number of properties under contract in March over the prior two months, and we feel we are poised for a very strong Spring market despite the shortage of inventory in many local areas,” said Atlanta REALTORS® President Bill Rawlings.

The median sales price in March 2017 was $250,000, up 8.7 percent from March 2016, and the average sales price was $307,000, up 6.2 percent from the previous year. March’s supply over a 12-month period increased slightly to 3.3 months from 3.1 months in January and February.

Increasing home prices are leading to Americans indicating that it is a good time to sell their homes, according to a recently report from Fannie Mae.

 

Largest Metro Counties Sales Comparison

Total Units Sold

Median Sales Price

Average Sales Price

Cobb

832

$266,000

$302,000

DeKalb

737

$266,000

$322,000

Fulton

889

$347,000

$434,000

Gwinnett 

957

$230,000

$257,000