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.”
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.