Fewer Sales, Higher Prices in Atlanta’s Housing Market

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.”

About the author

Phil Hall

Link copied

Published

Jul 16, 2018

Analysis and Data

Homes With Negative Equity Jump In Third Quarter

“I am surprised to have seen some of the increases in home prices," CoreLogic's chief economist says.

With home prices projected to enter a period of deceleration over the course of 2025 and 2026, a new report shows that the share of negative equity rose in the U.S. from the second quarter to the third quarter — the first quarterly rise since the fourth quarter of 2022. W...

People On The Move

Jason Lee New President Of The Loan Store

The former Flagstar Executive to steer The Loan Store through next phase of "aggressive growth"

The Loan Store, a leading wholesale mortgage lender, has tapped industry veteran Jason Lee to be its new president. With a career spanning more than two decades in the mortgage and banking industries, Lee is expected to bring expertise in capital markets, leadership, and ...