MARKET UPDATE!
Below is the summary for Greater Metro Atlanta through August 2018.

The entry-level market has strong demand and very low inventory. Finding the right property is getting harder which is resulting in lower closings for this segment. The luxury market is a buyer’s market with buyers negotiating better pricing and terms.
Mortgage Rates are rising slowly which will impact affordability. Metro Atlanta continues to be very affordable relative to other metro areas around the country.
August Pending Contracts were up 3% from July and up 6.2% from the prior year. August Closings were down 11.9% from last month and down 7.1% from the prior year.
Year-to-Date Pended Sales units were up 4.6% versus the prior year. Year-to-Date Closings were up 2.2% versus the prior year.
The Average Sales Price for August was $313,000 – down 2.2% from last month and up 7.6% from last year. 2018 is on track to be the highest annual ASP on record.Inventory for August was down .6% from last month and down 3% from last year.
Overall Months of Supply for August was 3.1 months. Six months is considered normal. Luxury properties took longer with homes above $1 million averaging 11.4 months and properties over $2 million averaging 27.1 months to close. The luxury market remains a buyer’s market in many areas.
The Average List-to-Sale Price Ratio was 97% for all price points. Many properties in high-demand areas are selling above list price.
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