Atlanta REALTORS® Releases July 2022 Statistics on Housing Market
The Atlanta REALTORS® Market Brief examines sales, prices in 11-county metro area
Atlanta, GA (August 29, 2022) – Atlanta REALTORS® Association (ARA), the largest association of its kind in Georgia, released its July 2022 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
| July 2022 | July 2021 | % Change | |
| Total Home Sales | 5,815 | 7,823 | -25.7% |
| Median Sales Price | $420,000 | $365,000 | 15.1% |
| Average Sales Price | $498,500 | $437,500 | 13.9% |
Monthly Comparison
| July 2022 | June 2022 | % Change | |
| Total Home Sales | 5,815 | 6,926 | -16.0% |
| Median Sales Price | $420,000 | $433,000 | -3.0% |
| Average Sales Price | $498,500 | $520,500 | -4.2% |
Demand: July residential sales were at 5,815, a decrease of 25.7% from the previous year.
Price: Average and median sales prices continue to outpace 2021’s figures, with positive gains. The median sales price in July was $420,000, an increase of 15.1% from last July. The average sales price was $498,500, up 13.9% from the previous year.
Supply: Atlanta area housing inventory totaled 12,112 units in July, an increase of 34.6% from July 2021. New listings totaled 8,695, down 6.3% from July 2021 and down 14.0% from the previous month. The month’s supply over a 12-month period increased to 1.9 months.
Largest Metro Counties Sales Comparison
| County | Total Units Sold | Median Sales Price | Average Sales Price |
| Cobb | 1,015 | $435,000 | $495,500 |
| DeKalb | 844 | $390,000 | $464,000 |
| Fulton | 1,375 | $442,000 | $597,500 |
| Gwinnett | 1,070 | $420,000 | $460,000 |
A Word from 2022 Atlanta REALTORS® President, Karen Hatcher:
“The median and average sales prices continue to trend higher with a 15.1% increase in the median price and a 13.9% increase in the average price over 2021,” reports Atlanta REALTORS® Association President Karen Hatcher. “We are still seeing multiple offers within a few days for properties that are priced appropriately.”
“Sales are trending lower compared to last year with the rising interest rates being the main factor,” says Hatcher. “Despite this lower trend, the economic activity in the metro area coupled with domestic migration has kept demand strong with median days on the market at 7 and average days at 16.”
“We reached our highest inventory level since October 2020 with a 34% increase to 1.9 months, however we are still well in a Seller’s market. Seller’s still have much to gain with the median sales price above $400,000 and the average price near $500,000 helping Metro Atlanta’s real estate market continue to thrive.”
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 50% 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
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Reggie McCrary, Chief Executive Officer
Office: 404.732.0601
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