Atlanta REALTORS® Market Brief: October 2022
November 20, 2022
The October 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: October residential sales were at 4,592, a decrease of 32.4% from the previous year.
Price: Average and median sales prices continue to outpace 2021’s figures, with positive gains. The median sales price in October was $395,000, an increase of 7.9% from last October. The average sales price was $476,000, up 9.2% from the previous year.
Supply: Atlanta area housing inventory totaled 13,118 units in October, an increase of 43.8% from October 2022. New listings totaled 6,584, down 17.4% from October 2022 and down 14.2% from the previous month. The month’s supply over a 12-month period increased to 2.2 months.
A Word from 2022 Atlanta REALTORS® President Karen Hatcher:
“Inventory is up 32.8% since October 2021 but this has not had a huge impact on the available properties as we still only have 2.2 month’s supply,” reports Atlanta REALTORS® Association President Karen Hatcher. “The median home price has been adjusting as inventory has increased but sellers are still experiencing a 7.9% increase over 2021 prices.”
“A positive for buyers is that 'no contingency offers have subsided' and we are also seeing sellers contribute to closing costs again,” says 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 firstname.lastname@example.org.