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…
Read the full article here