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.
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