Atlanta REALTORS® Releases February 2023 Statistics on Housing Market
The Atlanta REALTORS® Market Brief examines sales, prices in 11-county metro area
Atlanta, GA – RealEstateRama – Atlanta REALTORS® Association (ARA), the largest association of its kind in Georgia, released its February 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
| February 2023 | February 2022 | % Change | |
| Total Home Sales | 3,840 | 5,314 | -27.7% |
| Median Sales Price | $387,000 | $380,000 | 1.8% |
| Average Sales Price | $461,500 | $442,000 | 4.4% |
Monthly Comparison
| February 2023 | January 2023 | % Change | |
| Total Home Sales | 3,840 | 2,861 | 34.2% |
| Median Sales Price | $387,000 | $375,000 | 3.2% |
| Average Sales Price | $461,500 | $442,500 | 4.3% |
Demand: February residential sales were at 3,840, a decrease of 27.7% from the previous year.
Price: Average and median sales prices continue to outpace 2022’s figures, with positive gains. The median sales price in February was $387,000, an increase of 1.8% from last February. The average sales price was $461,500, up 4.4% from the previous year.
Supply: Atlanta area housing inventory totaled 9,230 units in February, an increase of 39.9% from February 2022. New listings totaled 5,416, down 22.8% from February 2022 and down 5.0% from the previous month. The month’s supply over a 12-month period decreased to 1.7 months.
Largest Metro Counties Sales Comparison
| Total Sales | Median Price | Average Price | |
| Cobb | 636 | $400,000 | $450,500 |
| DeKalb | 563 | $349,000 | $417,000 |
| Fulton | 858 | $415,000 | $570,000 |
| Gwinnett | 729 | $390,000 | $436,500 |
A Word from 2023 Atlanta REALTORS® President, Michael Fischer:
“As expected, sales rebounded this month and provide us with some momentum as we head into what is expected to be an active spring season,” reports Atlanta REALTORS® Association President Michael Fischer. “Average sales prices are now back to Metro Atlanta’s historical appreciation levels reflecting a 4.4% increase over the previous year.”
“We continue to be challenged by extremely low inventory levels and the changes in mortgage interest rates,” says Fischer. “Despite an increase in the number of active listings, our month’s supply, which is the measure of inventory vs the number of homes sold, has been trending lower over the past few months and is now down to 1.7 months.”
“We are hopeful that interest rates will stabilize and that we will possibly see a slight decrease in rate this year based on the Federal Reserve’s statements following their most recent meeting,” stated 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, Forsyth, Fulton, Gwinnett, Fayette, Henry and Paulding. 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.
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About the ATLANTA REALTORS® Association:
The Atlanta REALTORS® is the voice of residential real estate in Metro Atlanta and has been an instrumental factor in the growth of real estate in the state of Georgia for more than a century. As the largest REALTOR® association in Georgia, ARA serves as a central source of information for its members by focusing on real estate education, the promotion of professionalism in the industry and representing members with legislative initiatives to create positive change for the real estate community. While less than 60% of active real estate licensees in Georgia meet the requirements to become REALTORS®, they constitute 80% of the top producing agents. Membership in ARA is the hallmark of quality, professionalism, and production.
About FMLS:
First Multiple Listing Service, Inc. (FMLS) is the premier data services provider for real estate professionals in Georgia and throughout the Southeast. FMLS was founded by a handful of real estate brokers in Atlanta in 1957. Today, membership is growing quickly and is spreading in every direction. Currently, FMLS has over 2,700 offices and serves more than 56,000 real estate agents.
CONTACTS:
Geilia Taylor, Community Engagement & Diversity Director
404-732-0650
Reggie McCrary, Chief Executive Officer
Office: 404.732.0601
