Housing Market Holding Steady Atlanta GA

Janice Slaven, REALTOR®/Berkshire Hathaway Home Services, Georgia Properties/310 Town Center Avenue, Suwanee GA 30024

Georgia housing indicators for February are in. Data is provided by Georgia Association of Realtors monthly newsletter (March 2017)

As we move into the spring market, February showed some positive indicators with an increase of new listings, pendings and closed sales. The number that continues to be low is in housing inventory (homes on market). This trend has continued for the past few years; and, definitely puts us in a Sellers Market. As the supply continues to be low and the demand high, housing values continue to go up. New construction housing starts are popping up all over Metro Atlanta. No doubt the pent up demand for new housing will make for a good year for most builders.

- New Listings increased 1 percent to 13,232.

- Pending Sales increased 8.7 percent to 10,563.

- Closed Sales increased 1.4 percent to 7,380.

- Days on Market decreased 14.5 percent to 71 days.

- Median Sales Price increased 8 percent to $186,500.

- Average Sales Price increased 6.5 percent to $225,560.

- Inventory levels decreased 14.2 percent to 34,222 units.

- Months Supply of Inventory was down 22.7 percent to 3.4 months.

Please note that all indicators are year-over-year.

The information provided by Georgia Association of Realtors is based on a comparison of year-over-year.

Report Abuse

If you feel that this video content violates the Adobe Terms of Use, you may report this content by filling out this quick form.

To report a Copyright Violation, please follow Section 17 in the Terms of Use.