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July home sales remain constant as home prices rise throughout Atlanta

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Home sales in July stayed constant as home prices continue to rise throughout the city, according to the Atlanta Realtors Association’s July report.

Residential home sales in July grew 0.7 percent from last year with 5,621 homes sold. However, this is down nearly 10 percent from June’s 6,202 homes sold.

The median home sales price grew 8.2 percent from last year, rising to $278,000, but is down 2.5 percent from June’s high of $285,000. The average sales price grew 6.6 percent from $318,000 last year to $339,000 this year. However, it dropped 3.1 percent from June’s $350,000.

While the total active listings are down 5.8 percent from last year at 14,784 units, it is up from June when it sat at 14,396 total units. The month’s supply over a 12-month period increased from June to 3.0 months.

“The Atlanta market continues to be very active, even with supply issues that keep sales from truly reflecting the local demand,” said Bill Murray, president of Atlanta Realtors. “Although the levels of recent monthly home sales roughly match last year’s levels, the steady rise in prices is an indication of strong continued demand and is great news for homeowners whose largest investment is their home.”

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