Real Estate Market Update - June 2014
Metro Atlanta Market Trends
Real estate trends throughout Metro Atlanta showed mostly positive signs up through the end of May. Final numbers show new listings were down 1.3% from a month earlier, but up 11.2% compared to May of 2013.
Closed sales jumped 28.2% from April 2014 and were up 3.9% compared to May 2013. New pending sales were at 7,350 which is about 2% less than the year prior, yet it is still much higher than the five year average of 6,010 new pending sales in the month of May. The median sold price also jumped 12.1% to $200,700 in May.
Notice the price jump in the graph below which shows huge price increases during the spring and summer of 2013 which also seem to be following the same trend this year. With the peak home buying season in full force, just how much higher will home prices climb this year?
Median Sale Price With # Closed Transactions - 24 Mo Prior