Atlanta REALTORS® Association (ARA), the largest association of its kind in Georgia, released its June 2023 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 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, Fayette, Forsyth, Fulton, Gwinnett, Paulding, and Rockdale. 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.
Demand: June residential sales were at 5,338, a decrease of 23.3% from the previous year.
Price: Average and median sales prices continue to outpace 2022’s figures, with positive gains. The median sales price in June was $428,000, a decrease of -0.9% from last June. The average sales price was $530,000, up 1.9% from the previous year.
Supply: Atlanta area housing inventory totaled 9,998 units in June, a decrease of 11.5% from June 2022. New listings totaled 7,601, down 26.4% from June 2022 and up 5.3% from the previous month. The month’s supply over a 12-month period increased to 2.1 months.
A Word from 2023 Atlanta REALTORS® President Michael Fischer:
“The current state of the real estate market reflects a mix of trends,” reports Atlanta REALTORS® Association President Michael Fischer. “While the number of transactions reflects a decrease from the previous year, the total inventory has actually declined and remains significantly lower than what is considered normal.”
“Notably, the median and average days on the market have also decreased, emphasizing the highly competitive environment buyers are facing when shopping for home,” says Fischer.
“Despite high interest rates, the market continues to exhibit resilience,” stated Fischer. “Buyers face stiff competition in securing properties and we’re seeing evidence of more multiple offers, while home prices remain strong.”
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. 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.
