What is the story about?
What's Happening?
In July, the median home listing price in Fulton County rose to $86,425, marking a 4.2% increase from the previous month, according to data from Realtor.com. This increase contrasts with a 10.4% decrease compared to July 2024, when the median price was $91,950. The typical home in Fulton County was listed at $75 per square foot, a 10.1% rise from the previous year. Homes in the area were on the market for a median of 66 days, longer than the national median of 58 days. The number of new listings in July also saw a significant increase, with 34 homes newly listed, up 70% from the previous year. These statistics reflect only the homes listed for sale, excluding new constructions and pending sales.
Why It's Important?
The rise in home listing prices in Fulton County is indicative of broader trends in the U.S. housing market, where median home prices have seen fluctuations. The increase in listing prices could impact potential buyers, particularly in a market where affordability is a growing concern. The extended time homes spend on the market suggests a potential cooling in buyer interest or affordability challenges. The increase in new listings might indicate a shift in market dynamics, possibly due to sellers trying to capitalize on higher prices. These trends are crucial for stakeholders, including real estate investors, potential homebuyers, and policymakers focused on housing affordability.
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