Here is your update by the numbers for March 2016!
# of Home Sales – 4,530 up 6.9% from March 2015
Median Sales Price – $233,000 up 7.4% from March 2015
Average Sales Price – $292,000 up 6.2% from March 2015\
Confused by Average vs Median?
Now what about supply?
Available inventory in March 2016 was 13,761 for the Atlanta Area, this is down 1.4% from March 2015.
However, new listings were increased year over year for a total of 5,298 or an increase of 8% over March 2015 and 26.3% over February 2016. Ladies and gents, we are officially in the spring market!
A Word from 2016 ABR President Lane McCormack: “Home sales are up by close to 40% in comparison to February, which is a great indicator of the robust spring market that we are experiencing. Home buyers and those who wish to refinance are seeing advantages in the low mortgage rates, unlocking numerous savings. I believe low rates and positive employment forecasts will contribute to active buyer demand, median and average sales prices accelerating and a strong housing market throughout Spring 2016.”
All data provided by Atlanta Board of Realtors.