Prices, inventory continue to rise in Atlanta

by Mary Welch

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Housing sales were down across metro Atlanta in December 2018 over the same period in 2017, according to information compiled by the First Multiple Listing Service. Last month tallied 3,656 residential sales, a decrease of 21.3 percent from December 2017.

The bright side is that home prices across the 11-county Atlanta region increased 7.6 percent over the same time period with the median sales price of $268,000; the average sales price was $328,000, up 7.5 percent from the previous year.

Supply is also rising; 13,315 units were on the market in December 2018, an increase of 12.7 percent over 2017. New listings totaled 3,015, up 18.7 percent from December 2017 and down 25.8 percent from the previous month.

Commenting on the report, DeAnn Golden, Atlanta Realtors president, noted in a statement: “The Atlanta market closed out the year in a stronger position of available homes than it did in 2017, due at least in part to the growth in local listings in the last quarter. Average home prices continue to add value with a 7.5 percent increase over the year before, continuing a trend of steady, positive monthly growth that has lasted over six years.”