The Atlanta real estate market continues its hot run into the summer months. The June 2017 North Metro Atlanta Home Sales report indicated another year-over-year increase in total sales and average sale price. Inventory, on the other hand, dipped slightly. Read on to find out more about what happened last month with North Metro Atlanta real estate.
Statistics provided in this June 2017 North Metro Atlanta Home Sales Report were for single-family detached homes only. They do not reflect condos, townhomes or manufactured homes.
June 2017 North Metro Atlanta Home Sales
The First Multiple Listing Service (FMLS) reported a total of 4941 homes were sold in the North Metro Atlanta real estate market. That's 13.7% more than the same time last year and 2.5% more than May 2017. Even so, the total year-to-date sales of 23,631 are far less than the 27,051 shown this time last year.
Inventory experienced a slight decrease. June's figures showed 5.9 months available for new construction (down from 6.6 months last year). Many areas showed just three months available. However, parts of Rockdale had as much as 31 months on hand. Meanwhile, existing inventory decreased from 3.4 months available in June 2016 to just 3.1 months in June 2017. Several areas only had two months availabe. Some parts of Fulton showed seven months on hand, the most for existing inventory in the North Metro Atlanta area.
June 2017 North Metro Atlanta Home Prices
The average sale price for a North Metro Atlanta home sold in June was $348,867. This came in 1.9% higher than the previous month. However, it showed a 4.4% increase from June 2016. The average list price-to-sale-price ratio went from 95.8% last June to 98.2% just last month. Some Buyers in Dekalb actually paid just over list price for their homes. The average days a North Metro Atlanta home stayed on the market before going under contract increased slightly from 37 in June 2016 to 28 in June 2017.
With few exceptions, the North Metro Atlanta real estate market continues to linger in the Seller's market territory. Don't let that deter you from searching for your dream home. Even with interest rates beginning to ascend, they remain historically low. Contact your North Metro Atlanta REALTOR@ today.