Atlanta REALTORS® Association (ARA), the largest association of its kind in Georgia, released its April 2022 Market Brief on residential housing statistics for 11 area counties in metropolitan Atlanta. The Market Brief, compiled by First Multiple Listing Service (FMLS), provides the only regionally-focused synopsis of monthly sales and home prices for single-family residential properties.
The April 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: April residential sales were at 6,331, a decrease of 13.8% from the previous year.
Price: Average and median sales prices continue to outpace 2021’s figures, with positive gains. The median sales price in April was $412,500, an increase of 20.3% from last April. The average sales price was $500,500, up 18.2% from the previous year.
Supply: Atlanta area housing inventory totaled 7,245 units in April, a decrease of 6.2% from April 2021. New listings totaled 8,153, down 11.7% from April 2021 and down 2.1% from the previous month. The month’s supply over a 12-month period increased to 1.1 months.
A Word from 2022 Atlanta REALTORS® President Karen Hatcher:
“Metro Atlanta reached record highs for median and average sales price at $412,500 and $500,500 respectively for April indicating the housing market is still hot,” reports Atlanta REALTORS® Association President Karen Hatcher. “This is the first time ever the median price has been over $400,000 and the average price over $500,000.”
“As we moved into the busy spring season, we saw a slight increase in inventory with supply inching back over 1 month for the first time since December,” says Hatcher. “Although a positive sign, we are still very much in a Seller’s market.”
“While interest rates are rising, they are historically still low. We are continuing to see multiple offers on homes and offers above the list price. Buyers should continue to stay prepared for a search that could take months,” stated Hatcher. “We encourage buyers to work with a REALTOR® and be ready to act quickly. This market requires a very close watchful eye and a strong network as properties go under contract within days of listing.”
“As Metro Atlanta continues to progress economically, and with our current state of inventory, we will continue to see rising prices. It’s exciting to see the growth of the city, but we need to continue our focus on housing supply, affordability and work to ensure everyone has access to home ownership.”
The Atlanta REALTORS® Market Brief is designed to offer an overview of the Atlanta residential market by providing a synopsis of sales and home prices, and covers 11 counties: Cherokee, Clayton, Cobb, DeKalb, Douglas, Forsyth, Fulton, Gwinnett, Fayette, Henry and Paulding. The numbers in the reports are updated each month to reflect any additional recordings from the previous month. Each month, the numbers reported for the previous month are updated to reflect additional recordings.