December 2022 Edition - Released January 25, 2023:
Atlanta REALTORS® Association, the largest association of its kind in Georgia, released its December 2022 Market Brief today on residential housing statistics for 11 area counties in metropolitan Atlanta. The Market Brief, compiled by First Multiple Listing Service (FMLS), provides a regionally-focused synopsis of monthly sales and home prices for single-family residential properties.
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.
"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 M. 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.
