Demand: July residential sales were at 5,621, an increase of 0.7% from the previous year.
Price: Average and median sales prices continue to gain traction and outpace 2017’s figures, with positive gains. The median sales price in July was $278,000, an increase of 8.2% from last July. The average sales price was $339,000, up 6.6% from the previous year.
Supply: Atlanta area housing inventory totaled 14,784 units in July, a decrease of 5.8% from July, 2017. New listings totaled 5,361, up 3.8% from July, 2017 and down 4.9% from the previous month. The month’s supply over a 12-month period increased to 3.0 months.
A Word from 2018 Atlanta REALTORS® President Bill Murray: “The Atlanta market continues to be very active, even with supply issues that keep sales from truly reflecting the local demand. Although the levels of recent monthly home sales roughly match last years levels, the steady rise in prices is an indication of strong continued demand and is great news for homeowners whose largest investment is their home.”