The March 2021 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: March residential sales were at 6,952, an increase of 7.3% from the previous year.
Price: Average and median sales prices continue to outpace 2020’s figures, with positive gains. The median sales price in March was $330,000, an increase of 15.8% from last March. The average sales price was $396,500, up 15.9% from the previous year.
Supply: Atlanta area housing inventory totaled 7,426 units in March, a decrease of 55.8% from March 2020. New listings totaled 8,767, down 7.4% from March 2020 and up 25.4% from the previous month. The month’s supply over a 12-month period decreased to 1.1 months.
A Word from 2021 Atlanta REALTORS® President Cynthia Lippert:
“We see the increase in sales as a positive sign, that even though we’re facing some real challenges with low inventory levels, agents are finding creative solutions to ease some of the burden for consumers,” stated Cynthia Lippert, 2021 President of the Atlanta REALTORS® Association. “The importance of understanding the market is paramount to making all of this work.”
Asked more and more frequently for her advice to fatigued buyers and contemplating sellers, these days Lippert analogizes this unique housing marketplace to a complex puzzle. “I see agents rather skillfully connecting opportunity with need, sometimes problem-solving several steps ahead and looking heavily to their networks for solutions to piece it all together. This is real ingenuity at work, and it’s always been at the heart of what we do. This is what REALTORS® do everyday, and we’re just stepping up our game to meet the challenges of the day.”
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.
*Each month, the numbers reported for the previous month are updated to reflect additional recordings.
