Atlanta REALTORS Releases September 2023 Statistics on Housing Market
Wednesday, October 25th, 2023
Atlanta REALTORS® Association (ARA), the largest association of its kind in Georgia, released its September 2023 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.
| September 2023 | September 2022 | % Change | |
| Total Home Sales | 4,371 | 5,481 | -20.3% |
| Median Sales Price | $410,000 | $400,000 | 2.5% |
| Average Sales Price | $502,000 | $477,500 | 5.1% |
| September 2023 | August 2023 | % Change | |
| Total Home Sales | 4,371 | 5,190 | -15.8% |
| Median Sales Price | $410,000 | $425,000 | -3.5% |
| Average Sales Price | $502,000 | $515,500 | -2.6% |
Demand: September residential sales were at 4,371, a decrease of 20.3% from the previous year.
Price: Average and median sales prices continue to outpace 2022’s figures, with positive gains. The median sales price in September was $410,000, an increase of 2.5% from last September. The average sales price was $502,000, up 5.1% from the previous year.
Supply: Atlanta area housing inventory totaled 11,252 units in September, a decrease of 16.4% from September 2022. New listings totaled 6,422, down 17.0% from September 2022 and down 7.8% from the previous month. The month’s supply over a 12-month period increased to 2.4 months.
| Cobb | 707 | $416,000 | $487,500 |
| DeKalb | 617 | $360,000 | $463,000 |
| Fulton | 1,064 | $430,000 | $593,000 |
| Gwinnett | 845 | $425,000 | $478,000 |
A Word from 2023 Atlanta REALTORS® President, Michael Fischer:
"The metro-Atlanta housing market has seen the year-over-year median price and average price appreciation shrink over the last several months, to be more in line with historical averages,” reports Atlanta REALTORS® Association President Michael Fischer. “This counters the rapid surges experienced in recent years.”
“In another sign that our market is slowly moving back to more normal conditions, the month's supply of homes for sale has increased to 2.4 months inventory,” says Fischer. “Historically, 6 months of supply has been seen as the balance between a sellers and buyers market so despite the gains we are still a long way from reaching that balance.”
“The continued strong demand for housing in Atlanta is reflected by the median days on the market which has remained consistent at 14 days this month,” stated 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, Fayette, Forsyth, Fulton, Gwinnett, Paulding, and Rockdale. 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.
