Atlanta home sales, median prices increase in March

The Atlanta Board of Realtors noted the metropolitan area's median sale price was observed at $180,000 during the month, showing both an annual and monthly increase.

Atlanta public property records show larger numbers for sales and prices during March.

The Peach State's capital city noted improvement in statewide housing sales and median prices during the recent month, according to the Atlanta Board of Realtors.

The counties of Cherokee, Clayton, Cobb, DeKalb, Douglas, Fayette, Forsyth, Fulton, Gwinnett and Paulding saw a total of 3,592 finalized single-family home sales during March. This amount was a annual decrease of nearly 12 percent, as 4,072 transactions were recorded in March 2012. However, improvement of almost 27 percent was seen month-over-month, as February only logged 2,835 total sales. 

The real estate organization noted the metropolitan area's median sale price was observed at $180,000 during the month, showing both an annual and monthly increase. This figure was approximately 47 percent higher that the median price of 122,537.50 exhibited in March 2012, and more than 12 percent above the amount recently recorded in February.

Meanwhile, Bank-owned sales in March showed positive decreases. The amount was 26 percent of total transactions, down marginally from the 27 percent exhibited in February, and down significantly from 45 percent of total sales logged in March 2012.

Housing sales improved statewide during March
Along with the city of Atlanta, many other areas in the Peach State exhibited considerable improvement during the third month of this year. The Georgia Association of Realtors announced in its March 2013 report that closed sales increased month-over-month, but showed a decrease year-over-year - while median sale prices increased on both bases

Finalized sales totaled 6,896 during the month, moving down almost 12 percent from the same month the previous year, but ticking up from the 5,801 sales recorded during the preceding month. Median sale prices were seen at $131,250 in March, up more than 31 percent from the year-ago level of $99,900 as well as from the February's amount of $119,000.

As mortgage records show favorable rates, an increasing number of individuals may look to purchase property before the flagging inventory levels push prices higher.

In a separate release, National Association of Realtors chief economist Lawrence Yun said national existing-home sales, which were up yearly but down monthly in March, may point toward possible improvement in the future if supply can increase to meet the high levels of demand.

 "Buyer traffic is 25 percent above a year ago when we were already seeing notable gains in shopping activity," said Yun. "In the same timeframe housing inventories have trended much lower, which is continuing to pressure home prices."

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