Atlanta REALTORS® Market Brief: November 2022
December 20, 2022
The November 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: November residential sales were at 3,988, a decrease of 39.8% from the previous year.
Price: Average and median sales prices continue to outpace 2021’s figures, with positive gains. The median sales price in November was $390,000, an increase of 5.4% from last November. The average sales price was $460,000, up 4.3% from the previous year.
Supply: Atlanta area housing inventory totaled 12,358 units in November, an increase of 51.0% from November 2021. New listings totaled 5,007, down 22.8% from November 2021 and down 24.0% from the previous month. The month’s supply over a 12-month period decreased to 2.1 months.
A Word from 2022 Atlanta REALTORS® President Karen Hatcher:
“The continued increase in interest rates in 2022, has led to a 39.9% decrease in year over year sales,” reports Atlanta REALTORS® Association President Karen Hatcher. “Despite this decrease, the median home price is still holding strong with a 5.4% increase over 2021 prices.”
“Inventory is up 51% since November 2021 but this has not had a huge impact on the available properties as we still only have 2.1 month’s supply,” says Hatcher.
Infographic : Download PDF : Press Release
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.