Atlanta REALTORS® Releases March 2023 Statistics on Housing Market
The Atlanta REALTORS® Market Brief examines sales prices in 11-county metro area
Atlanta, GA (April 20, 2023) – RealEstateRama – 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.
|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%|
|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|
A Word from 2023 Atlanta REALTORS® President, Michael Fischer:
“We have experienced a slight decline in interest rates over the last few weeks and this has sparked some renewed interest among buyers,” reports Atlanta REALTORS® Association President Michael Fischer. “We continue to see extremely low inventory and, as a result, we are now experiencing a return of multiple offers on properties in certain areas.”
“While we’re still seeing the total number of transactions lower than last year’s strong pace, the greater competition around new listings has resulted in a slight price appreciation and shorter days on market,” says 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, Fayette, Forsyth, Fulton, Gwinnett, Paulding, and Rockdale. 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 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.
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.
Geilia Taylor, Community Engagement & Diversity Director
Reggie McCrary, Chief Executive Officer