Like a good majority of the country, Atlanta has seen an increase in home prices in 2017, according to recent reports. Unfortunately it is also following another trend that many cities are following when it comes to a lack in supply.
Home listings are trending down, driving prices up with the median sales prices of a home coming in at $239,000 for 2017. The National Mortgage News report adds that it is up 6% from 2016.
"Looking ahead, we expect to see changes in buying patterns this year, as buyers begin to look to communities further outside of Atlanta in search of more affordable housing and a wider selection," said John Rainey, vice president of Remax Georgia, according to the report.
The Fulton county in Atlanta boasted the highest sales price on homes with a median of $332,500 on the year. Though, not all counties were as fortunate as Fulton.
"Clayton, which suffered more concentrated pain than any other county during the crash of real estate and the recession that followed," according to the report.
"With more ground to make up, Clayton is also bouncing back a little faster than its neighbors to the north."
To learn more about Atlanta's increasing homes prices and struggles with housing supply, click on the image above.