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Homes sales down slightly, prices up

ATLANTA — The Atlanta Board of REALTORS has released its November Market Brief on residential housing statistics for 11 area counties in metro-Atlanta that includes Henry and Clayton counties. Market Brief, compiled by RealValuator, provides a regionally focused synopsis of monthly sales and home prices for single family residential properties.

Highlights from the November report include:

Single family residential sales in Metro Atlanta totaled 2,971 in November 2013.

Annually, this is a decrease of 12.9 percent compared to 3,410 total sales in November 2012.

Monthly, this is a decrease of 17.8 percent compared to 3,613 total sales in October 2013.

The Median sales price for November 2013 was $181,000.

Annually, prices increased 20.7 percent from November 2012.

Monthly, median prices decreased 3.7 percent in comparison to October 2013.

Bank-owned sales in November 2013 dropped to 1 percent from 10 percent of total sales in November 2012.

“At this time of the year, with the holiday season in full swing, it is not surprising to see sales numbers decrease,” said ABR President Nancy See. “We still consider the annual decline in sales a result of an inventory that remains at low levels, and the month-to-month decline in prices as a result of a seasonally slowing market. This trend will most likely continue as the winter progresses, and we anticipate a change for the better when the spring selling and buying season arrives. Additionally, we expect a return to more ‘normal’ appreciation levels in median prices as opposed to the kind of large, year-over-year increases we saw in 2013.”

The ABR Market Brief is designed to offer an overview of the Atlanta residential market by providing a synopsis of sales and home prices, and covers 11 counties: Cherokee, Clayton, Cobb, DeKalb, Douglas, Forsyth, Fulton, Gwinnett, Fayette, Henry and Paulding. Numbers in the reports are updated each month to reflect any additional recordings from the previous month.