November 2017 North Metro Atlanta Market Report

By
Real Estate Agent with Keller Williams Realty Partners ~ 678.462.1191 agentandersen@gmail.com Georgia Broker 175548

According to the November 2017 North Metro Atlanta Market Report, prices increased only slightly from last year while sales were up a little more.The end of the year typically slows down in real estate. That's because everybody gets caught up in the holidays. Buying a home tends to be put on the back burner until after the new year, typically well into spring. The November 2017 North Metro Atlanta Market Report reflected this with sales slowing down and prices remaining close to what they were last November. New construction inventory rose while existing inventory continues to shrink.

November 2017 North Metro Atlanta Home Sales

According to the First Multiple Listing Service (FMLS), a total of 3400 single-family detached homes were sold in the North Metro Atlanta area during November 2017. While this showed a 6.2% decrease from October's sales, it still marked a 2.3% increase from last November's sales figures. And the days on market decreased from 49 last year to 46 in November 2017. 

November 2017 North Metro Atlanta Home Prices

Prices continue to go up in the North Metro Atlanta area. But we only saw a slight uptick. Last November, the FMLS reported an average sale price of $341,144. This increased just 0.5% to $342,954 last month. Fulton County was the only area that showed an average sale price over $1,000,000. The list-price-to-sale-price ratio decreased from 97.6% in November 2016 to 96.9% last month.

November 2017 North Metro Atlanta Inventory

Inventory of newly constructed North Metro Atlanta homes increased while existing home inventory decreased. New construction rose from 7.2 months last November to 7.7 months in November 2017. Some areas of Dekalb and Gwinnett Counties reported just three months available while Rockdale showed 37 months of inventory. Existing home inventory declined from 3.1 months available last November to just 2.4 months last month. While it was as high as five months in parts of Fulton and Cobb Counties, Dekalb and other areas of Cobb County only reported one month available.

What Buyers Need to Know

The good news for North Metro Atlanta Buyers is that now's a great time to purchase a home. Why? Because there's less competition out there. Sellers want to negotiate a deal. You just need the right person on your side. Contact me when you're ready to start looking.

Laura Andersen, Keller Williams Realty Partners, your North Metro Atlanta REALTOR®

Posted by

Laura Andersen, REALTOR®, Associate Broker / Keller Williams Realty Partners
678-462-1191
AtlantaHOMEListings.com

 

  

  

 

 Laura Andersen | Associate Broker at KW Realty Partners | www.AtlantaHomeListings.com

 

 

 

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Real Estate Market Trends
Location:
Georgia Fulton County Atlanta
Groups:
Posts to Localism
Local Expert
Market Reports
Tags:
atlanta real estate
atlanta home prices
atlanta home sales
atlanta market report
north metro atlanta home sales
november 2017 north metro atlanta market report

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Rainmaker
596,766
Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

Good afternoon Laura Andersen 

Thank you for sharing your information with us at Active Rain.

Have a great day 12/19/2017.

Dec 19, 2017 11:25 AM #1
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
93,931

Laura Andersen

A HomeSOLD Name (678)462-1191 Woodstock, Georgia
Call your Market Leader, Laura Andersen, for buying or selling
*
*
*
*
Spam prevention