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Atlanta REALTORS® Market Brief: September 2022

The September 2022 Market Brief, compiled by First Multiple Listing Service (FMLS), provides a regionally focused synopsis of monthly sales and home prices for residential properties in Metro Atlanta. This summary covers 11 counties: Cherokee, Clayton, Cobb, DeKalb, Douglas, Fayette, Forsyth, Fulton, Gwinnett, Paulding, and Rockdale.

SALES

Demand: September residential sales were at 5,382, a decrease of 23% from the previous year.

MEDIAN SALES PRICE

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.

AVERAGE SALES PRICE

“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.”

MONTH'S SUPPLY INVENTORY

“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.”

NEW LSITINGS

“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.”

ACTIVE LISTINGS

“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.”

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RMAA's Real Estate News Blog

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Market Snapshot ATL Metro

Check out the Atlanta Metro Area Market Snapshot for Single Family Homes & Condos, Townhomes. If you are considering the sale of your home, now is a great time!

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Property Tax Homestead Exemptions

This is a reminder to file for your Homestead Exemption if you have not done so already. According to Georgia law, if you purchased your home between January 1, 2022 and December 31, 2022, you may be eligible to claim a Homestead Exemption which reduces your property taxes information and deadlines for filing for the Homestead Exemption. Be sure to confirm eligibility and requirements with your county of residence.

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