Current Metro Atlanta Home Values and Real Estate Market Statistics

Written by Posted On Thursday, 27 December 2018 08:47

As a Metro Atlanta homeowner, or a potential buyer, it is important to keep up with the local real estate market trends. So, here are the current market statistics based on numbers up to the end of November 2018. Enjoy!

Less Homes are Selling Compared to Same Time Last Year

There were 5,139 closings for Residential Single Family Detached in November 2018. This reflects a decrease of 4% over November 2017. There were 1,078 closings for Residential Single Family Attached in November 2018. This reflects a decrease of 10% over November 2017.

More Homes are Selling This Year Compared to Last Year

There were 68,045 closings for Residential Single Family Detached for YTD 2018. This reflects an increase of 2% over YTD 2017. There were 14,272 closings for Residential Single Family Attached for YTD 2018. This reflects an increase of 1% over YTD 2017.

The Average Sales Price Continues to Rise

The average sale price for Residential Single Family Detached was $307,981 for November 2018 vs. $285,411 for November 2017. The average sale price for Residential Single Family Attached was $257,490 for November 2018 vs. $254,858 for November 2017.

The Residential Detached Average Sales Price YTD through November 2018 was $309,096 vs. $290,323 for YTD 2017. This represents an increase of 6% for YTD 2018 vs. YTD 2017. The Residential Attached Average Sales Price YTD through November 2018 was $261,452 for YTD through November 2018 vs. $240,098 for YTD 2017. This represents an increase of 9% for YTD 2018 vs. YTD 2017.

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Inventory Continues to Increase

November 2018 Active Inventory Overview Active inventory level for Residential Single Family Detached continues to increase with 18,603 active listings as of the end of November 2018 vs.17,342 active Residential Single Family Detached listings as of the end of November 2017. This represents increase in active inventory for Residential Single Family Detached of 7%. Active inventory level for Residential Single Family Attached continues to increase with 3,241 active listings as of the end of November 2018 vs. 2,569 active Residential Single Family Attached listings as of the end of November 2017. This represents increase in active inventory for Residential Single Family Attached of 26%.

Total Active Listings All Property Types: November 2018 =30,361, October 2018=31,137, November 2017=28,316

There were 9,160 new listings entered for all property types in November 2018 vs. 8,628 new listings entered for all property types in November 2017. Total new listings entered for all property types in YTD 2018 was 132,580 vs. 124,553 new listings entered for all property types in YTD 2017. 

Absorbtion Rate of Detached Homes (Rate at Which Homes are Sold)

With the number of  detached (single-family) homes closed in Metro Atlanta from November 2017 to November 2018 equaling 68,045, and the number of current listings at 18,603...the absorption rate is 3.28%. This means there is a 3.28 month supply of homes available to purchase. Six months' supply is considered a balanced market - when the number of listings roughly equals the number of buyers. Numbers over six represent a buyers' market and those below a sellers' market. So, we are still a seller's market here in Metro Atlanta. 

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Emily Benner - Path & Post Real Estate

Emily is a proven real estate professional with a depth of experience only surpassed by her passion to create amazing client experiences. By focusing on each client's unique needs and concerns she is able to leverage persistence, dedication, and compassion to help buyers find their path to the right home. Emily is a proactive guide along the journey and has a keen awareness of how to win the game of contracts for her clients. She is a North Atlanta resident and has a degree from Kennesaw State University. When she is not acting as a strategic guide, you can find Emily seeking a new town or campsite to explore with her two teenagers. Emily also enjoys horseback riding and supporting the communities she serves via various charities benefiting kids with cancer.

emily@pathpost.com

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