Home sales in metro Atlanta declined in the month of December, but the median price of homes sold picked up as a smaller proportion of the sales were foreclosures, according to a report issued Monday.
Lower sales figures — but higher sales prices — may seem contradictory. But foreclosures made up only slightly more than a quarter of home sales in December, compared to nearly half of all sales in the same month a year ago, the Atlanta Board of Realtors said.
The Atlanta Board of Realtors said single family home sales dipped 11.6 percent to compared to December 2011. The monthly tally was also off 6.9 percent compared to November 2012.
But median sales prices last month rose 38.7 percent $165,000 compared to December 2011. The median price was also up 9.3 percent over November 2012.
“The year ended on a high note as far as prices are concerned, having increased significantly over last year and showing additional promise over November,” Nancy See, the 2013 Atlanta Board of Realtors president, said in a news release.
The monthly and year-over-year sales declines were not unexpected, given the start of winter and the holidays, which are traditionally slow selling periods, she said.
About the Author
