Atlanta Real Estate Market Trends | December 2014
Median Home Prices In Metro Atlanta Up 12.9% YOY
Sale prices for Metro Atlanta residential properties in November were up nearly 13% compared to November 2013. This massive jump in prices is a continuance of the price appreciation trend that started in late 2012. Despite a winter “cool down” in prices from the 5-year high experienced this past June, median sale prices have remained constant the past three months and appear poised to increase again in 2015.
Market Signals From November
November’s numbers show positive signs for metrics such as: closed sales, new pending sales, median & average sold prices, price per sq/ft and foreclosure inventory. We have experienced a trend of increasing inventory and days on market, which could mean the supply of homes for sale will continue to grow. The increase in supply in conjunction with a dropping sale price to original list price ratio may mean less of a seller’s market as we move into 2015.
Positive Outlook Moving Forward
With mortgage rates remaining low, strong stock market gains and dropping unemployment numbers, all signs point to a strengthening real estate market and overall economy moving forward.
Average Price Per Sq/Ft & Avg Sale Price Comparison