The median Atlanta home price last month was $222,130 – up 6 percent from a year before, according to a report from Re/Max of Georgia.
The most active city was Atlanta, where there were 477 homes sold, Re/Max said, while Marietta placed second with 281 sales. The highest median price of a sale, however, was in Cumming: $315,000.
It was, “a remarkably strong fall season,” said Jeanette Schneider, senior vice president of Re/Max Georgia. “December capped off what has been a very strong year for the housing market in Atlanta.”
The end of the year could be a springboard, she said. “We end the year on a positive note and this sets us up for a great start moving into the new year.”
However, the market’s apparent health, however, is not balanced: The number of transactions was actually down slightly from 2015. Perhaps more crucially, the number of homes listed for sale – inventory – was down 9 percent from a year earlier.
The shortage of listings is a problem, since it pushes prices higher a little faster than they might rise otherwise. And those increases undermine the affordability of Atlanta area market, especially for first-time homebuyers.
The median Atlanta home price last month was $222,130 – up 6 percent from a year before, according to a report from Re/Max of Georgia.
The most active city was Atlanta, where there were 477 homes sold, Re/Max said, while Marietta placed second with 281 sales. The highest median price of a sale, however, was in Cumming: $315,000.
It was, “a remarkably strong fall season,” said Jeanette Schneider, senior vice president of Re/Max Georgia. “December capped off what has been a very strong year for the housing market in Atlanta.”
The end of the year could be a springboard, she said. “We end the year on a positive note and this sets us up for a great start moving into the new year.”
However, the market’s apparent health, however, is not balanced: The number of transactions was actually down slightly from 2015. Perhaps more crucially, the number of homes listed for sale – inventory – was down 9 percent from a year earlier.
The shortage of listings is a problem, since it pushes prices higher a little faster than they might rise otherwise. And those increases undermine the affordability of Atlanta area market, especially for first-time homebuyers.
The median Atlanta home price last month was $222,130 – up 6 percent from a year before, according to a report from Re/Max of Georgia.
The most active city was Atlanta, where there were 477 homes sold, Re/Max said, while Marietta placed second with 281 sales. The highest median price of a sale, however, was in Cumming: $315,000.
It was, “a remarkably strong fall season,” said Jeanette Schneider, senior vice president of Re/Max Georgia. “December capped off what has been a very strong year for the housing market in Atlanta.”
The end of the year could be a springboard, she said. “We end the year on a positive note and this sets us up for a great start moving into the new year.”
However, the market’s apparent health, however, is not balanced: The number of transactions was actually down slightly from 2015. Perhaps more crucially, the number of homes listed for sale – inventory – was down 9 percent from a year earlier.
The shortage of listings is a problem, since it pushes prices higher a little faster than they might rise otherwise. And those increases undermine the affordability of Atlanta area market, especially for first-time homebuyers.
Metro Atlanta housing market, December of 2016
Median sales price: $222,130
Transactions closed: 3,908
Average number of days on the market: 59
Top area cities for homes sold in December:
Atlanta …………..477
Marietta ……….. 281
Cumming ………. 217
Lawrenceville ….. 205
Cities with hightest median sales price:
Atlanta …………..$300,000
Marietta ……….. $267,000
Cumming ………. $315,000
Lawrenceville ….. $201,000
Source: Re/Max Georgia
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