Atlanta REALTORS® Association (ARA), the largest association of its kind in Georgia, released its December 2022 Market Brief on residential housing statistics for 11 area counties in metropolitan Atlanta. The Market Brief, compiled by First Multiple Listing Service (FMLS), provides the only regionally-focused synopsis of monthly sales and home prices for single-family residential properties.
Annual Comparison
|
|
December 2022 |
December 2021 |
% Change |
|
Total Home Sales |
3,973 |
6,649 |
-40.2% |
|
Median Sales Price |
$389,000 |
$376,000 |
3.5% |
|
Average Sales Price |
$462,500 |
$443,000 |
4.4% |
Monthly Comparison
|
|
December 2022 |
November 2022 |
% Change |
|
Total Home Sales |
3,973 |
3,021 |
31.5% |
|
Median Sales Price |
$389,000 |
$390,000 |
-0.3% |
|
Average Sales Price |
$462,500 |
$459,500 |
0.7% |
Demand: December residential sales were at 3,973, a decrease of 40.2% from the previous year.
Price: Average and median sales prices continue to outpace 2021’s figures, with positive gains. The median sales price in December was $389,000, an increase of 3.5% from last December. The average sales price was $462,500, up 4.4% from the previous year.
Supply: Atlanta area housing inventory totaled 10,547 units in December, an increase of 45.9% from December 2021. New listings totaled 3,845, down 26.0% from December 2021 and down 23.3% from the previous month. The month’s supply over a 12-month period decreased to 1.9 months.
Largest Metro Counties Sales Comparison
|
|
Total Sales |
Median Price |
Average Price |
|
Cobb |
614 |
$395,000 |
$454,000 |
|
DeKalb |
565 |
$348,000 |
$432,500 |
|
Fulton |
962 |
$410,000 |
$553,500 |
|
Gwinnett |
761 |
$395,000 |
$427,000 |
A Word from 2023 Atlanta REALTORS® President, Michael Fischer:
“The Atlanta real estate market has been rebalancing over the last several months, with the number of listings increasing and the total number of sales cooling from the records set last Spring,” reports Atlanta REALTORS® Association President Michael Fischer. “Historically, housing is in short-supply, but more balanced conditions will present Buyers with opportunities they haven’t seen in several months.”
“With interest rates continuing to pull back from recent peaks, we are expecting a busy spring market on the horizon as Atlanta continues to be a great place to live and work,” says Fischer.
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, Henry and Paulding. The numbers in the reports are updated each month to reflect any additional recordings from the previous month. Each month, the numbers reported for the previous month are updated to reflect additional recordings.
For more information or details on the reports, please contact Atlanta REALTORS® at 404-250-0051.