Atlanta REALTORS Association (ARA), the largest association of its kind in Georgia, released its March 2020 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

Monthly Comparison

Demand: March residential sales were at 4,848, a decrease of 3.9% from the previous year.

Price: Average and median sales prices continue to gain traction and outpace 2019’s figures, with positive gains. The median sales price in March was $293,000, an increase of 6.5% from last March. The average sales price was $354,000, up 3.8% from the previous year.

Supply: Atlanta area housing inventory totaled 11,782 units in March, a decrease of 9.7% from March, 2019. New listings totaled 4,551, down 16.6% from March, 2019 and up 24.1% from the previous month. The month’s supply over a 12-month period increased to 2.3 months.

Largest Metro Counties Sales Comparison

A Word from 2020 Atlanta REALTORS® President Jennifer Pino: 

“While the Metro Atlanta area, and our country, experienced significant changes over the past month, the housing market in Atlanta remained relatively stable compared to previous years,” said Jennifer Pino, President of Atlanta REALTORS® Association. “The March sales reflect transactions that were in process as the pandemic began to overtake our country and demonstrate some of the efforts made by our members to assist their clients all the way to closing through this extraordinary time.”

“While agents would traditionally be preparing for a strong spring market, we expect the April numbers will reflect a slowdown as a result of this crisis.”