Atlanta REALTORS® Releases May 2020 Statistics on Housing Market

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The Atlanta REALTORS® Market Brief examines sales, prices in 11-county metro area

Atlanta, GA (June 15, 2020) – Atlanta REALTORS® Association (ARA), the largest association of its kind in Georgia, released its May 2020 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

May 2020

May 2019

% Change

Total Home Sales

4,085

6,465

-36.8%

Median Sales Price

$291,000

$290,000

0.3%

Average Sales Price

$351,000

$353,000

-0.6%

Monthly Comparison

May 2020

Apri, 2020

% Change

Total Home Sales

4,085

4,297

-4.9%

Median Sales Price

$291,000

$302,000

-3.6%

Average Sales Price

$351,000

$363,000

-3.3%

Demand: May residential sales were at 4,085, a decrease of 36.8% from the previous year.

Price: Average and median sales prices continue to gain traction and outpace 2019’s figures, with positive gains. The median sales price in May was $291,000, an increase of 0.3% from last May. The average sales price was $351,000, down -0.6% from the previous year.

Supply: Atlanta area housing inventory totaled 11,313 units in May, a decrease of 23.7% from May 2019. New listings totaled 3,915, down 35.8% from May 2019 and up 5.4% from the previous month. The month’s supply over a 12-month period decreased to 2.3 months.

Largest Metro Counties Sales Comparison

Total Units Sold

Median Sales Price

Average Sales Price

Cobb

678

$310,000

$346,000

DeKalb

514

$327,000

$387,000

Fulton

746

$375,000

$481,000

Gwinnett

833

$278,000

$304,000

A Word from 2020 Atlanta REALTORS® President Jennifer Pino:

“While prices remain steady, sales for May reflect the impact of the Shelter in Place Order that Metro Atlanta residents were following during March and April. Based on the showing activity during those months, this was an expected decline and will continue to affect the overall sales for the early part of the summer,” said Jennifer Pino, President of Atlanta REALTORS® Association.

“Interest rates are now at historic lows falling below 3% in many cases so combined with the re-opening of many businesses, we have seen the showing activity and pending sales trending upward over the last month.  Based on this trend, activity is expected to trend higher overall this summer as compared to last summer. “

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. 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 2,300 offices and serves more than 43,000 real estate agents. The FMLS listing database contains more than 31,000 active listings located all over Georgia and the Southeast.

CONTACTS:

Atlanta REALTORS® Association
Joel McRae, Digital Marketing Specialist
Office: 404.732.0613

Reggie McCrary, Chief Executive Officer
Office:  404.732.0601

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