Atlanta, GA (July 20, 2022) – RealEstateRama – Atlanta REALTORS® Association (ARA), the largest association of its kind in Georgia, released its June 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.
|June 2022||June 2021||% Change|
|Total Home Sales||6,745||8,389||-19.6%|
|Median Sales Price||$435,000||$370,000||17.6%|
|Average Sales Price||$522,500||$448,000||16.6%|
|June 2022||May 2022||% Change|
|Total Home Sales||6,745||6,878||-1.9%|
|Median Sales Price||$435,000||$430,000||1.2%|
|Average Sales Price||$522,500||$518,000||0.9%|
Demand: June residential sales were at 6,745, a decrease of 19.6% from the previous year.
Price: Average and median sales prices continue to outpace 2021’s figures, with positive gains. The median sales price in June was $435,000, an increase of 17.6% from last June. The average sales price was $522,500, up 16.6% from the previous year.
Supply: Atlanta area housing inventory totaled 10,604 units in June, an increase of 30.5% from June 2021. New listings totaled 10,063, up 5.5% from June 2021 and up 12.3% from the previous month. The month’s supply over a 12-month period increased to 1.6 months.
|County||Total Units Sold||Median Sales Price||Average Sales Price|
A Word from 2022 Atlanta REALTORS® President, Karen Hatcher:
“Rising interest rates have decreased the numbers of buyers on the market, however sales in Metro Atlanta still remain strong with listings averaging only 6 days on market leading into the summer season,” reports Atlanta REALTORS® Association President Karen Hatcher.
“We are still experiencing double-digit increases in the Median Price, but the increases are expected to begin to slow in the future due to rising interest rates,” says Hatcher. “The demand is still strong so we expect to continue to have buyers who can afford to purchase fueling the market.”
“It’s exciting to see the number of new project starts and opportunities in our growing market! Buyers affected by the rising interest rates should look at home purchase options with a new lens. Consider homes with less square footage, or may be a little older home and in need of some cosmetic upgrades. This could still get you in your dream neighborhood and give you an opportunity to put your own spin on it over time. Partner with a REALTOR® to help you navigate this market and find a home that works for you.” stated Hatcher.
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.
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.
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.