May 2018 Comments
Demand: May residential sales were at 5,838, a decrease of 4.7% 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 May was $282,000, an increase of 9.7% from last May. The average sales price was $344,000, up 7.5% from the previous year.
Supply: Atlanta area housing inventory totaled 13,156 units in May, a decrease of 10.2% from May, 2017. New listings totaled 5,202, down 6.6% from May, 2017 and up 5.6% from the previous month. The month’s supply over a 12-month period increased to 2.7 months.
A Word from 2018 Atlanta REALTORS® President Bill Murray: