Atlanta REALTORS Association (ARA), the largest association of its kind in Georgia, released its September 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.

Demand: September residential sales were at 5,382, a decrease of 23.0% 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 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.