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August 2018 North Metro Atlanta Market Report
Has the tide begun to turn in the North Metro Atlanta real estate market? New construction inventory levels actually rose from last year. While the average sale price rose from last year, the August 2018 North Metro Atlanta Market Report showed that it actually declined from July 2018's average price. We'll need more than one month to see if this is a continuing trend.
August 2018 North Metro Atlanta Market ReportAugust 2018 North Metro Atlanta Market Report - SalesAccording to the First Multiple Listing Service (FMLS), a total of 4304 North Metro Atlanta homes were sold throughout August 2018. That's a 3.2% decrease from the 4445 sold in August 2017. It's also a 6.6% decline from July 2018. The average time a North Metro Atlanta home spent on the market before going under contract fell from 40 days in last year to 37 days last month.
August 2018 North Metro Atlanta Market Report - PricesUnlike sales, prices showed a definite increase. Buyers paid $362,244 on average for a North Metro Atlanta home last month. That marked a 5% increase over last August's $344,996 average. However, it is 4% less than the $377,334 average Atlanta area buyers paid in July 2018. That's the first ... more
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