Atlanta REALTORS® Market Brief: September 2022
November 7, 2022
The September 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: September residential sales were at 5,382, a decrease of 23% from the previous year.
Price: Average and median sales prices continue to outpace 2021’s figures, with positive gains. The median sales price in September was $400,000, an increase of 12.2% from last September. The average sales price was $477,000, up 11.7% from the previous year.
Supply: Atlanta area housing inventory totaled 12,891 units in September, an increase of 39.1% from September 2021. New listings totaled 7,589, down 6.8% from September 2021 and down 5.4% from the previous month. The month’s supply over a 12-month period increased to 2.1 months.
A Word from 2022 Atlanta REALTORS® President Karen Hatcher:
“The rising interest rates have slowed sales as this is the third straight month with a decline in excess of 20% over the previous year,” reports Atlanta REALTORS® Association President Karen Hatcher. “Inventory is now up 39% and we have 2.1 month’s inventory which is the first time we have been above 2 months supply in two years.”
“Prices remain positive with the Median Price up 12% over the past year continuing a trend of double digit increases in price for the past two years,” says Hatcher. “We are still in a sellers market so sellers who waited or are ready to sell, can still realize positive gains over last year.”
“Metro Atlanta’s economy is still strong with a growing population so as inventory begins to rise we expect to see a return to a more historically normalized market.”
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.