The May 2023 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: 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, Paulding, and Rockdale.
Demand: May residential sales were at 5,486, a decrease of 20.7% from the previous year.
Price: Average and median sales prices continue to outpace 2022’s figures, with positive gains. The median sales price in May was $420,000, a decrease of -2.3% from last May. The average sales price was $523,500, up 1.2% from the previous year.
Supply: Atlanta area housing inventory totaled 9,195 units in May, an increase of 4.5% from May 2022. New listings totaled 7,198, down 22.1% from May 2022 and up 15.2% from the previous month. The month’s supply over a 12-month period increased to 1.9 months.
