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Home prices continue to rise while inventory remains steady

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May 2017 statistics show housing demand virtually unchanged even as sales prices outpace 2016 figures 

Trees in front of house with covered porch. Karon Warren | Curbed Atlanta

Sellers in Atlanta’s residential real estate market continue to do well thanks to higher sales prices and unwavering housing demand in the metro area.

According to the May 2017 Atlanta REALTORS® Market Brief compiled by First Multiple Listing Service, the median sales price for May was $258,000, an increase of 4.9 percent over last May. The average sales price was $323,000, up 6.3 percent from last year.

Even at these numbers, however, homes less than $400,000 in highly desirable school districts are hard to come by, said Bill Rawlings, president of Atlanta REALTORS®, in a press release.

Regardless, demand in Atlanta’s housing market has changed very little from May 2016, with May 2017 residential sales at 5,860, an increase of just 0.1 percent from the previous year.

Per the report, 1,102 homes sold in Fulton County during May, with 804 sold in Dekalb County.

“The housing market shows ongoing strength with prices steadily improving and inventory generally maintaining about three months’ supply,” Rawlings said.

Infographic shows May 2017 housing statistics. Atlanta Realtors® Association