Home sales dropped sharply in April, but for those who were selling, it wasn’t a bad month at all.
The number of home sales in metro Atlanta fell 9.8 percent from March to April, according to the monthly report issued Friday by Atlanta Board of Realtors.
Meanwhile, the median price of sales was up 4.3 percent during the month to $243,000, the board reported.
“It is very much a seller’s market,” said Lane McCormack, president of the board.
Prices are up 8 percent from April a year ago.
Inventory – that is, the number of homes for sale – has been a complicating factor in the market’s recovery from the long housing bust. It’s good for sellers, of course, because buyers often find themselves bidding against each other, pushing up prices so that homes commonly sell for close to – or even more than – the sellers’ asking prices.
There was only a small improvement in April: the number of homes listed for sale was up just slightly.
But that inventory represents about 3.4 months of sales, about half of what is considered a normal, balanced market in which neither sellers nor buyers have an strong advantage.
Among the core metro counties, Gwinnett had the fastest moving market, with 910 homes sold. But Fulton was easily the priciest, with a median home price of $375,000.
Upper-tier houses were clearly a factor: Fulton’s average sales price was $482,000, the board reported.
The report includes 11 counties in all.
County … Units sold …… median price
Cobb: ……..745 ……….. …$258,000
DeKalb: …..610 …………. $270,000
Fulton: …….742 ………… $375,000
Gwinnett: …910 ……….. $215,0000
Source: Atlanta Board of Realtors
