The Georgia Association of Realtors (GAR) just released the following real estate data from October. The changes are year-over-year.
- New Listings decreased two percent to 12,249.
- Pending Sales increased seven percent to 9,188.
- Closed Sales increased five percent to 8,999.
- Days on Market decreased 20 percent to 59 days.
- Median Sales Price increased seven percent to $186,360.
- Average Sales Price increased eight percent to $232,832.
- Inventory levels decreased 14 percent to 39,855 units.
- Months Supply of Inventory was down 21 percent to 4.1 months.
GAR reports, “a relatively comfortable pace of activity has been maintained thanks to continuing low unemployment and mortgage rates. The one basic drag on market acceleration has been inventory decline. There is little to indicate that the low inventory situation will resolve anytime soon.”
Epic Development is currently building in Buckhead, Grant Park, Midtown, Northwest Atlanta, Old Fourth Ward, Reynoldstown, Riverside, Sandy Springs and the Sweet Auburn Historic District. For more information, visit www.EpicDevelopment.com/ or contact Scott Eaves at (404) 518-3820.