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It’s a seller’s market, except for one segment

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Home sales were down for another month in the Greater Atlanta area in September, according to RE/MAX’s latest housing report.

The report noted that sales decreased 3.5 percent from the previous year, despite the national trend of increasing home sales during the same period.

“Greater Atlanta is slowly moving towards a more balanced housing market,” Jeff LaGrange, who oversees regional operations in RE/MAX’s southeast region, said in the news release accompanying the report. “We are still seeing a slight seller advantage across most price points and areas — the outlier being the luxury market, which currently favors buyers.”

The report also noted that the median sales price of $253,000 in Greater Atlanta was up from a year ago, compared to $239,000 from September 2018. The biggest jump in prices was registered in Cobb County, where the year-over-year increase was 9.8 percent. That was followed by homes in Gwinnett at 7.1 percent and Fulton at 7 percent. Clayton nearly broke even with a small gain of 1.5 percent and DeKalb registered a decline of 3.5 percent in median price from a year ago.

Homes spent fewer days on the market in all five counties, except for Cobb County, which broke even at 36 days.

The report notes that housing inventory is down overall which, combined with rising prices, is contributing to the drop in sales.

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