While home sales in the Atlanta area saw the standard seasonal slowdown in December, one county saw a significant increase in sales.
Clayton County saw a 33 percent increase in home sales from 87 in December 2016 to 116 in December 2017, according to RE/MAX Georgia’s December Housing Report. Every other county in the Atlanta area saw decreases on a year-over-year basis.
However, home prices are on the rise everywhere as every county showed median price increases since December 2016. DeKalb County saw 13 percent increase from $235,000 to $264,821, followed by Fulton County with an 11 percent rise from $305,000 to $338,500.
In total, the Atlanta area saw a 5.4 percent decline in sales, dropping from 7,348 sales last December to 6,962 this year.
One of the reasons behind the decline in home sales is the significant decline in supply in the area. Last December, the area had a 4.3-months supply, but last month there was only a 3.3-months supply. However, this is up from November’s 3.2-months supply.
The tightening supply is leading to higher competition with homes staying on the market an average of 53 days, which is five days less than last year but three days more than in November.
Home prices are also rising in this competitive market, with a 7.1 percent increase in the median sales price from $210,000 in 2016 to $225,000 this year. It also rose from November’s median sales price of $216,000.
“December is usually one of the slowest months for local home sales and last month, overall, was no exception in greater Atlanta,” said John Rainey, vice president of RE/MAX Georgia. “However, while Gwinnett, Cobb, Fulton and DeKalb counties experienced expected decreases in the number of homes sold, Clayton County saw a 33 percent increase. It’ll be very interesting to see if this trend continues in the coming months.”
|Home Sales Dec. 2017||Home Sales Dec. 2016||
|Median Sales Price
|Median Sales Price