Fewer homes available keep prices high for the month of August. The Atlanta REALTORS® Association (ARA) most recent market report shows that prices for residential homes in metro-Atlanta continue to trend upwards while inventory, especially new home construction, stays low.
Total housing inventory declined 2.8% from August 2017 for a total of 14,812 units. This is a 2.9% decrease from last month’s listings however it is an increase of 5.2% from August of last year.
August sales are also down 9.7% from last year for a total of 5,062 although prices remain on the rise. Median price ($268,000) is up 8.1% from last year, and average price ($335,000) up 9.5%
The month’s supply over a 12-month period increased to 3.0 months.
Read full report here.