Fewer Sales, Higher Prices in Atlanta’s Housing Market

Phil Hall

Jul 16, 2018

Atlanta’s housing market recorded fewer sales and higher prices in June, according to new data from the Atlanta Realtor’s Association.

Last month, the Georgia capital saw 5,671 residential sales, down 8.3 percent from May and down 10.9 percent from the previous year. The median sales price in June was $285,000, a 1.1 percent uptick from May and a 7.5 percent from June 2017. The average sales price was $353,000, up 2.9 percent from the previous month and up 8.6 percent from the previous year.

Atlanta area housing inventory totaled 14,396 units in June, a decrease of 7.1 percent from one year earlier. New listings totaled 5,638, up 8.4 percent from the previous month but 1.6 percent lower on a year-over-year basis. The month’s supply over a 12-month period increased to three months.

“We are seeing a leveling out of the inventory of available homes, which is due to the supply available and not due to a weakening demand,” said Bill Murray, President of the Atlanta Realtors Association. “If the consistency in home inventory over the past months was because of a waning buyer interest, price growth would start slowing. Instead, buyer enthusiasm continues to move prices upwards.”

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Jul 16, 2018

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