Atlanta REALTORS® Market Brief: May 2022
June 28, 2022
The May 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: May residential sales were at 6,817, a decrease of 8.3% from the previous year.
Price: Average and median sales prices continue to outpace 2021’s figures, with positive gains. The median sales price in May was $430,000, an increase of 19.4% from last May. The average sales price was $518,500, up 18.0% from the previous year.
Supply: Atlanta area housing inventory totaled 8,094 units in May, an increase of 9.5% from May 2021. New listings totaled 8,941, up 6.7% from May 2021 and up 9.2% from the previous month. The month’s supply over a 12-month period increased to 1.2 months.
A Word from 2022 Atlanta REALTORS® President Karen Hatcher:
“Metro Atlanta remains ripe with strong demand even with increasing interest rates,” reports Atlanta REALTORS® Association President Karen Hatcher. “The lack of supply continues to result in a decrease in the number of sales and double digit increases in price.”
“We don’t expect any strong price correction coming soon even with the rising interest rates due to the lack of inventory,” says Hatcher. “Buyers on the lower end of pricing will be the most affected simply because there is extremely low to no inventory of starter homes or affordable housing.”
“Sellers are still realizing huge gains as our economy grows and housing prices increase so now is still a great time to list a home.” stated Hatcher.
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.