Atlanta REALTORS Releases March Statistics on Housing Market
Friday, April 21st, 2023
Atlanta REALTORS® Association (ARA), the largest association of its kind in Georgia, released its March 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.
Annual Comparison
|
March 2023 |
March 2022 |
% Change |
|
|
Total Home Sales |
5,100 |
6,893 |
-26.0% |
|
Median Sales Price |
$397,000 |
$395,000 |
0.5% |
|
Average Sales Price |
$478,500 |
$470,500 |
1.7% |
Previous Monthly Comparison
|
March 2023 |
February 2023 |
% Change |
|
|
Total Home Sales |
5,100 |
3,893 |
31.0% |
|
Median Sales Price |
$397,000 |
$387,000 |
2.6% |
|
Average Sales Price |
$478,500 |
$461,000 |
3.8% |
Demand: March residential sales were at 5,100, a decrease of 26.0% from the previous year.
Price: Average and median sales prices continue to outpace 2022’s figures, with positive gains. The median sales price in March was $397,000, an increase of 0.5% from last March. The average sales price was $478,500, up 1.7% from the previous year.
Supply: Atlanta area housing inventory totaled 9,203 units in March, an increase of 28.6% from March 2022. New listings totaled 7,054, down 18.6% from March 2022 and up 29.8% from the previous month. The month’s supply over a 12-month period increased to 1.8 months.
Largest Metro Counties Sales Comparison
|
County |
Total Units Sold |
Median Sales Price |
Average Sales Price |
|
Cobb |
810 |
$410,000 |
$462,000 |
|
DeKalb |
762 |
$350,000 |
$441,500 |
|
Fulton |
1,164 |
$412,500 |
$577,000 |
|
Gwinnett |
1,000 |
$400,000 |
$446,000 |
A Word from 2023 Atlanta REALTORS® President, Michael Fischer:
“We have experienced a slight decline in interest rates over the last few weeks and this has sparked some renewed interest among buyers,” reports Atlanta REALTORS® Association President Michael Fischer. “We continue to see extremely low inventory and, as a result, we are now experiencing a return of multiple offers on properties in certain areas.”
“While we're still seeing the total number of transactions lower than last year’s strong pace, the greater competition around new listings has resulted in a slight price appreciation and shorter days on market,” 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, 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.
