Atlanta REALTORS® Market Brief: September 2022
November 7, 2022
The September 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: September residential sales were at 5,382, a decrease of 23% from the previous year.
Price: Average and median sales prices continue to outpace 2021’s figures, with positive gains. The median sales price in September was $400,000, an increase of 12.2% from last September. The average sales price was $477,000, up 11.7% from the previous year.
Supply: Atlanta area housing inventory totaled 12,891 units in September, an increase of 39.1% from September 2021. New listings totaled 7,589, down 6.8% from September 2021 and down 5.4% from the previous month. The month’s supply over a 12-month period increased to 2.1 months.
A Word from 2022 Atlanta REALTORS® President Karen Hatcher:
“The rising interest rates have slowed sales as this is the third straight month with a decline in excess of 20% over the previous year,” reports Atlanta REALTORS® Association President Karen Hatcher. “Inventory is now up 39% and we have 2.1 month’s inventory which is the first time we have been above 2 months supply in two years.”
“Prices remain positive with the Median Price up 12% over the past year continuing a trend of double digit increases in price for the past two years,” says Hatcher. “We are still in a sellers market so sellers who waited or are ready to sell, can still realize positive gains over last year.”
“Metro Atlanta’s economy is still strong with a growing population so as inventory begins to rise we expect to see a return to a more historically normalized market.”
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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.