While the spring residential buying frenzy may be over, summer is proving to be a good season for Atlanta’s housing market.
The Atlanta Board of Realtors, citing data from First Multiple Listing Service, reported residential sales hit 5,289 in May — an increase of 3.4 percent from May 2015.
Atlanta Board of Realtors President Lane McCormack said inventory levels are still low relative to the demand in many markets in the city.
“May sales results continue to show a healthy increase in both closed units and average sales price,” McCormack said. “Coupled with the April adjusted sales figures now reflecting a sales increase of 6.7 percent over the same time last year, the overall Atlanta market seems to be experiencing healthy growth and absorption of existing inventory.”
Average and median sales prices continue to shoot past 2015’s numbers.
The median sales price in May was $250,000, an increase of 4.2 percent from last May. The average sales price was $307,000, up 3.7 percent from the previous year. [read article]
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