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.
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.