ATLANTA, GA – Atlanta home sales surged in March after being stuck in neutral for the first two months of the year. According to the local MLS, the number of homes sold in March was up 12.9% from March 2014 with some closings still left to be counted. That marked the best performance in percentage terms for Atlanta home sales in recent memory and the best March in number of sales since March 2011.
The average home sales price rose by a robust rate of 6.2% to a new all-time March high of $279,216 compared to $262,849 last March. It was also the first time in recent memory that the percentage increase in home sales was greater than the percentage increase in the average home sales price.
For its part, Beacham & Company, REALTORS® outperformed the suddenly red-hot market again in March. The firm’s number of home sales was up 88.6% from March a year ago and dollar volume sold was up 68.5%. Year-to-date, the firm is ahead of last year’s record sales pace by nearly double.
“Our success this year is the direct result of our agents getting new listings on the market early in the year ahead of the competition,” said Dac Carver, Vice President and Managing Broker for Beacham & Company. “
Housing inventory remains a critical component to the health and sustainability of the market but is still stubbornly low in areas of high demand such as Buckhead, Morningside, East Cobb and North Fulton.
The sale of 3210 Laramie Drive in Historic Vinings – listed for $1,795,000 – was part of another historic month in March for Beacham & Company, REALTORS®.
“We are encouraging sellers who are thinking about moving not to wait to put their homes on the market,” Carver said. “Waiting to sell could prove costly this year. There are a number of factors that could make 2016 a much tougher year for buyers and sellers alike. Interest rates are widely anticipated to rise in September, and when coupled with the faster-than-historical growth in home prices, could delay many buyers from participating in the housing market and exert pressure up the housing’s economic chain. Also, the stock market is overdue for a correction and next year is a major election year – neither of which are helpful for the housing market. We pride ourselves on being optimistic, but these factors are worth watching as we look past this summer.”
About Beacham & Company, REALTORS®
Beacham & Company, REALTORS® is an independent, locally-owned, full service residential real estate brokerage firm that specializes in Atlanta luxury real estate. The firm is located in the heart of Buckhead at One Buckhead Plaza next to the St. Regis Hotel and across the street from Buckhead Atlanta shopping district. With more than 90 licensed sales associates, Beacham is the top selling office in Atlanta by dollar volume of listings sold.