June 2018 Comments
Demand: June residential sales were at 5,671, a decrease of 10.9% 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 June was $285,000, an increase of 7.5% from last June. The average sales price was $353,000, up 8.6% from the previous year.
Supply: Atlanta area housing inventory totaled 14,396 units in June, a decrease of 7.1% from June, 2017. New listings totaled 5,638, down 1.6% from June, 2017 and up 8.4% 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: “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. 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.”