Atlanta home prices accelerated in April, continuing to rise in a market dominated by buyers.
About 4,400 homes were sold during the month a median price of $229,000, a level that was 5.5 percent higher than in March and a robust 12.3 percent above the level of a year ago, according to a report provided Tuesday by the Atlanta Board of Realtors to the Journal-Constitution.
“We are having a great spring,” said Ennis Antoine, president of the board.
Perhaps the biggest flaw in the market is inventory, that is, the list of homes per sale. For a year or more, experts have cited the imbalance of supply and demand as a reason for the rise in prices and as the market rolled into the heart of the buying season, the balance shifted even more in favor of home-sellers.
Inventory in April was up 3.8 percent over the levels of a year ago, while the number of sales increased by 8.6 percent, according to the board.
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