Atlanta REALTORS® Market Brief: August 2022
September 22, 2022
The August 2022 Market Brief, compiled by First Multiple Listing Service (FMLS), provides a regionally focused synopsis of monthly sales and home prices for residential properties in Metro Atlanta. This summary covers 11 counties: Cherokee, Clayton, Cobb, DeKalb, Douglas, Fayette, Forsyth, Fulton, Gwinnett, Paulding, and Rockdale.
Demand: August residential sales were at 5,838, a decrease of 23.3% from the previous year.
Price: Average and median sales prices continue to outpace 2021’s figures, with positive gains. The median sales price in August was $408,000, an increase of 13.6% from last August. The average sales price was $484,500, up 13.7% from the previous year.
Supply: Atlanta area housing inventory totaled 12,075 units in August, an increase of 32.8% from August 2021. New listings totaled 7,999, down 10.1% from August 2021 and down 8.2% from the previous month. The month’s supply over a 12-month period increased to 1.9 months.
A Word from 2022 Atlanta REALTORS® President Karen Hatcher:
“The Median Price remains strong in Metro Atlanta at $408,000 which is up 13.6% over this time last year,“ reports Atlanta REALTORS® Association President Karen Hatcher. “This continues a trend of year over year double digit increases every month since August 2020.“
“On a positive note for buyers, inventory is now up nearly 33% over last year,“ says Hatcher. “While sales are now down, this still represents just under 2 months of homes available for sale which keeps us still deeply in a seller’s market.“
“Demand is still strong but cooling slightly with the median days on market at 10 and average at 20. This is historically extremely low and overall, the Atlanta Market remains strong. With our population growth, it’s still a great time to sell.“
The data in this report was compiled by First Multiple Listing Service (FMLS). For more information on details of this month's report, please contact the Association at 404.250.0051.