Atlanta REALTORS® Market Brief: February 2023
March 29, 2023
The February 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: February residential sales were at 3,840, a decrease of 27.7% from the previous year.
Price: Average and median sales prices continue to outpace 2022’s figures, with positive gains. The median sales price in February was $387,000, an increase of 1.8% from last February. The average sales price was $461,500, up 4.4% from the previous year.
Supply: Atlanta area housing inventory totaled 9,230 units in February, an increase of 39.9% from February 2022. New listings totaled 5,416, down 22.8% from February 2022 and down 5.0% from the previous month. The month’s supply over a 12-month period decreased to 1.7 months.
A Word from 2023 Atlanta REALTORS® President Michael Fischer:
“As expected, sales rebounded this month and provided us with some momentum as we head into what is expected to be an active spring season,” reports Atlanta REALTORS® Association President Michael Fischer. “Average sales prices are now back to Metro Atlanta’s historical appreciation levels reflecting a 4.4% increase over the previous year.”
“We continue to be challenged by extremely low inventory levels and the changes in mortgage interest rates,” says Fischer. “Despite an increase in the number of active listings, our month’s supply, which is the measure of inventory vs the number of homes sold, has been trending lower over the past few months and is now down to 1.7 months.”
“We are hopeful that interest rates will stabilize and that we will possibly see a slight decrease in rate this year based on the Federal Reserve’s statements following their most recent meeting,” 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 firstname.lastname@example.org.