0
0
0

Atlanta home sales surpass national average in April

by

atlanta-emerging-real-estate-market-2017

Atlanta homes sales are rising faster than the national average since last year, according to the latest RE/MAX housing report.

Home sales in the greater Atlanta area rose 4.1 percent since last year with 8,169 sales in April. On a national scale, sales rose just 2.3 percent year-over-year.

The median sales price is up 8.1 percent in Atlanta since last year at $243,000.  This is also higher than the median sales price of $236,000 in March of 2018. National median sales price grew as well, at a 7.5 percent increase year-over-year.

Homes are also selling quicker than they did last month in Atlanta. The average time a house is on the market is down 6 days since last year, at an average of 43 days.  This is also 7 days sooner than the average 50 days a house was on the market just last month.

“It is undeniably a seller’s market in greater Atlanta with our months supply of inventory now under two months, less than the national average of two-and-a-half months. There’s simply not enough homes for sale,” said John Rainey, vice president of RE/MAX Georgia.

Clayton saw the most significant increase in home sales at 15 percent, while DeKalb and Fulton faced the steepest decrease in sales at 11 and 7 percent respectively.  The highest growth in median sales price was seen in Cobb with a 15 percent increase since last month.

“The region’s median home price is a reflection of the shortage — it increased eight percent since April 2017 and median prices in three counties, Cobb, Clayton and Gwinnett, grew between 10 percent and 15 percent year-over-year,” said Rainey.

 

Home sales (April 2018) Home sales (April 2017) Difference Media Sales Price (April 2018) Media Sales Price (April 2017) Difference
Gwinnett 1,015 982 3% $252,000 $233,000 10%
Cobb 906 821 10% $298,500 $265,000 15%
Fulton 902 968 -7% $380,000 $350,500 8%
DeKalb 656 737 -11% $293,750 $270,188 9%
Clayton 124 108 15% $133,250 $119,000 12%

Read More Related to This Post

Join the conversation

New Subscribe