Atlanta REALTORS® Market Brief: February 2021
March 17, 2021
Demand: February residential sales were at 5,094, a decrease of 3.2% from the previous year.
Price: Average and median sales prices continue to outpace 2020’s figures, with positive gains. The median sales price in February was $315,000, an increase of 16.7% from last February. The average sales price was $380,500, up 16.4% from the previous year.
Supply: Atlanta area housing inventory totaled 7,571 units in February, a decrease of 50.6% from February 2020. New listings totaled 6,957, down 11.5% from February 2020 and up 3.1% from the previous month. The month’s supply over a 12-month period decreased to 1.2 months.
A Word from 2021 Atlanta REALTORS® President Cynthia Lippert:
"The unprecedented seller’s market in Metro Atlanta seems unlikely to slow down anytime soon based on February numbers," stated Cynthia Lippert, 2021 President of the Atlanta REALTORS® Association. “The flattening of sales volume in year over year comparison is a reflection of the continued inventory shortages which are far from meeting buyer demand.”
“It could take a year or more to bring inventory levels back up to meet the demand,” Lippert estimates. “That’s the solution to rebalancing the market.”
“The good news for sellers is that it’s still the best time we’ve seen to sell a home. However, even in a hot market, it’s imperative to work with a professional REALTOR® throughout the process. Amazing results aren’t a given without strategic marketing and proper advice.”
About the ARA Market Brief
The Atlanta REALTORS® (ARA Market Brief is compiled by First Multiple Listing Service (FMLS) and provides the only regionally focused synopsis of monthly sales and home prices for single family residential properties. Covers 11 counties: Cherokee, Clayton, Cobb, DeKalb, Douglas, Fayette, Forsyth, Fulton, Gwinnett, Paulding and Rockdale.
The data in this report was compiled by First Multiple Listing Service (FMLS). For more information on details of this month's report, please contact the Association at 404.250.0051.
*Each month, the numbers reported for the previous month are updated to reflect additional recordings.
About the Atlanta REALTORS® Association
The Atlanta REALTORS® Association (ARA) has been an instrumental factor in the growth of real estate in the state of Georgia for more than a century. With over 10,000 members, Atlanta is the largest board in Georgia and is considered to be one of the strongest and most successful REALTOR® organizations in the nation. ARA serves as a central source of information for its members, with mainly focusing on real estate education, the promotion of professionalism in the industry and representing REALTORS® members with legislative initiatives to create positive change for the real estate community.
About First Multiple Listing Service
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 throughout Georgia. 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.
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