Gwinnett led the pack in October as home sales dropped – the way they typically do in late fall – while the price of houses sold continued to rise, according to a report issued Friday by Atlanta Realtors, the local group’s association.
The market continued to show an imbalance between supply and demand. Friday’s numbers continued to tell the story of a market that is somewhat undercut by a shortage of homes listed for sale – even while demand from buyers has been steady.
During the month, the number of sales fell to 4,105 – down 15.4 percent from September, according to the report.
At the same time, the median price of a sale hit $230,000. That is a slight tick up from September, but a 6.5 percent increase from the same month a year ago, the association said.
Inventory – that is, the supply of homes for sale – remains low, said Lane McCormack, president of Atlanta Realtors. “Therefore, it’s still a seller’s market in most areas of Atlanta.”
The inventory of homes for sale last month was 15,839 – down 1.8 percent from the month before. The supply of homes for sales is down 3.4 percent from a year ago.
The hottest metro county for sales in October was Gwinnett, where 837 homes sold. The median price in the county was $212,000.
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Housing market in the largest metro counties
……..……….Units sold………… Median Sales Price
Cobb …………. 716 ……………….. $230,000
Dekalb ………. 580 ………………. $225,000
Fulton …….… 749 …………….…. $325,000
Gwinnett ..…. 837 …………..…… $212,000
Source: Atlanta Realtors, First Multiple Listing Service
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