The June 2015 North Metro Atlanta Market Update is in. Sales and prices continue their march upward. Here is what you need to know.
June 2015 North Metro Atlanta Market Update
The First Multiple Listing Service reported that a total of 4688 single-family homes were sold in North Metro Atlanta in June 2015. That was 20.3% higher than those sold in June 2014. It also continued the trend of month-over-month increases we have been seeing since the beginning of this year. The higher end of the market saw an increase in total sales as well. Of the 4688 total sales, 105 of them were purchased for $1,000,000 or higher. That was a 56.7% increase from June 2014 and a 61% increase from May 2015.
Prices continued their steady climb, too. The average sale price for a North Metro Atlanta home sold last month was $313,568. That was 10.2% higher than the same time last year. It is also the highest average we have seen in the last five years.
North Metro Atlanta homes ran the gamut of prices. Almost 2% of the total sales were under $50,000. The highest price paid was $4,587,500 for a 4 bed/4 bath classic Harrison Design Beecham Builders home in Paces-Buckhead. This beautiful 12,000 square foot European style home sits on over two acres. It also sold for 10.1% lower than the list price and spent almost three months on the market.
How Does This Affect the North Metro Buyer/Seller?
The June 2015 North Metro Atlanta Market Update should encourage Sellers. The price per square foot has increased from $105 in June 2014 to $114 last month. Buyers are still paying an average of 98% of the list price. But the average total days on the market have diminished from 63 last year to 48 last month. Interest rates have steadily increased since May. They are expected to continue to go up for the foreseeable future. If you want to buy a home now, you need to contact your North Metro Atlanta REALTOR® today!
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