Atlanta REALTORS® Market Brief: April 2023
May 22, 2023
The April 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: April residential sales were at 4,661, a decrease of 28.7% from the previous year.
Price:Average and median sales prices declined for the first time since 2012.The median sales price in April was $405,000, a decrease of -1.2% from last April. The average sales price was $495,000, down -0.7% from the previous year.
Supply: Atlanta area housing inventory totaled 9,007 units in April, an increase of 14.2% from April 2022. New listings totaled 6,212, down 26.0% from April 2022 and down 12.8% from the previous month. The month’s supply over a 12-month period increased to 1.8 months.
A Word from 2023 Atlanta REALTORS® President Michael Fischer:
“The impact of the quick rise in interest rates became apparent in the Atlanta real estate market in April with overall sales down 28%,” reports Atlanta REALTORS® Association President Michael Fischer. “Additionally, the median price was down 1.2% to $405,000 as we experienced our first annual decline in the median price in over 11 years.”
"Despite the decline in price, the median days on market remains extremely low, decreasing to 11 in April, compared to 18 days in March, indicating that homes are selling even faster than before,” says Fischer. “With new listings falling by 26% in April, the data supports the trend of homeowners putting off selling their homes amidst economic uncertainty and higher interest rates making the market tougher to navigate.”
“These market indicators may cause concern, but we are still seeing a competitive marketplace, high traffic on active listings, and strong value being placed on home ownership,” stated Fischer.
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.
About the GRBOR Market Brief
The Greater Rome Board of REALTORS® (GRBOR) Market Brief is compiled by Georgia Multiple Listing Service (GAMLS).For more information on details of this month's report, please contact the Board at 404.845.4025.
*Each month, the numbers reported for the previous month are updated to reflect additional recordings.
About the Greater Rome Board of REALTORS®
The Greater Rome Board of REALTORS® (GRBOR) has been an instrumental factor in the growth of real estate in Floyd County, Georgia for more than a decade. GRBOR serves as a central source of information for its members, with mainly focusing on real estate education, the promotion of professionalism in the industry and representing REALTORS® members with legislative initiatives to create positive change for the real estate community.
About Georgia Multiple Listing Service
Since 1962 Georgia MLS has been providing real estate professionals with exceptional service, proven technology solutions, and unmatched value. With a laser-sharp focus on making the day-to-day tasks of our MLS subscribers more functional, more productive, and more profitable, we continue to implement the service blueprint that has led to our continued growth. For additional information or to start a discussion about how to partner with GAMLS please contact email@example.com.