THE MUFFLEY REPORT – August 2018
September 21, 2018
Muffley & Associates’ review of national and Atlanta real estate for August 2018 is here! Highlights of this month’s report include the following:
- National inventory remained steady this month in wake of a four-month decline in existing-home sales.
- According to the Atlanta Realtors Association, August’s median existing-home price is up 4.6% from August 2017, with an average price of $264,800.
- 5,208 of the total 14,812 units available in the metro Atlanta area were new listings.
- The highest selling homes in the metro Atlanta area in August were in Buckhead and the city of Atlanta for $3 million.
- Homes in Inman Park are getting the highest price per square foot of the Intown neighborhoods ($419.63 per sq. ft.), while square footage is most affordable in Norcross ($118 per sq. ft.).
- Sellers in Area 51 (Brookhaven, Ashford Park, Dunwoody Forest, Chamblee) saw the quickest results. Homes in this area spent an average of just 26 days on the market.
- Area 24 (Little Five, Edgewood, Kirkwood, East Lake) also saw the greatest sales price / opening price ratio at 98.8%.