Demand: July residential sales were at 5,223, a decrease of 6.3% from the previous year.
Price: Average and median sales prices continue to gain traction and outpace 2016’s figures, with positive gains. The median sales price in July was $259,000, an increase of 4.9% from last July. The average sales price was $321,000, up 5.3% from the previous year.
Supply: Atlanta area housing inventory totaled 15,701 units in July, a decrease of 4.9% from July, 2016. New listings totaled 5,165, down 0.7% from July, 2016 and down 9.5% from the previous month. The month’s supply over a 12-month period increased to 3.3 months.
A Word from 2017 Atlanta REALTORS® President Bill Rawlings: “Home values are rising at reasonable levels, and the Atlanta market has stayed accessible to both buyers and sellers. The local market has consistently had around a three-months’ supply for the past year, with sale prices improving reliably yet without the rapid acceleration of some other major cities.”