Atlanta Real Estate Update

The weather is getting warmer and so is the Metro Atlanta real estate market. Pendings are up and closings are up. Below is the summary for Metro Atlanta with data through June 2017.

• Year-to-date pended sales through June were up 20% versus last year. Year-to-date closings were up 4% versus last year and down up 3.4% from last June.
• The average sales price for June was $309,000 - up 2% from last month and up 6.1% from last year. 2017 is on track to be the highest average sales price on record.
• The listed inventory for June was up 5.6% from last month and down 5.4% from last June. But the limited availability of desirable properties is still driving multiple offers and very quick sales in select areas.
• Overall months of supply for June was 2.9 months. Six months is considered normal. Luxury properties are taking longer with homes above $1 million averaging 13.3 months and properties over $2 million averaging 25.4 months to close. These numbers indicate a seller’s market under $500,000 and a buyer’s market over $1 million.
• The latest Case-Shiller Index for Atlanta (6/27/17) was up 1.42% compared to the previous month. Metro Atlanta home values are up 65% from the bottom of March 2012.  Increased homes values are building equity and getting sellers back into the market.
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Click here for a more detailed set of charts including the National Real Estate Market, Metro Atlanta Real Estate Market and Trends for Georgia Real Estate.

Lake Sidney Lanier Homes is the most comprehensive online source for information on Lake Lanier homes for sale and Lake Lanier area real estate. View the latest Lake Lanier home listings, foreclosures, lots, land, sales trends and real estate topics on Lake Lanier. Arthur Prescott is an Accredited Buyer's Representative and Certified Residential Specialist with Berkshire Hathaway HomeServices Georgia Properties. He has over a decade of Lake Lanier real estate experience. If you would like to schedule a free buyer or seller consultation, please feel free to contact us directly at www.LakeSidneyLanierHomes.com or 770-844-8484 or email us at Arthur.Prescott@BHHSGeorgia.com.