Market Briefs

Atlanta REALTORS® Market Brief: February 2022

March 15, 2022

February Highlights

The February 2022 Market Brief, compiled by First Multiple Listing Service (FMLS), provides a regionally focused synopsis of monthly sales and home prices for residential properties in Metro Atlanta. This summary covers 11 counties: Cherokee, Clayton, Cobb, DeKalb, Douglas, Fayette, Forsyth, Fulton, Gwinnett, Paulding, and Rockdale.

Demand: February residential sales were at 5,073, a decrease of 5.0% from the previous year.

Price: Average and median sales prices continue to outpace 2021's figures, with positive gains. The median sales price in February was $380,000, an increase of 21.4% from last February. The average sales price was $445,000, up 17.7% from the previous year.

Supply: Atlanta area housing inventory totaled 6,095 units in February, a decrease of 15.2% from February 2021. New listings totaled 6,634, down 3.8% from February 2021 and up 6.9% from the previous month. The month's supply over a 12-month period decreased to 0.9 months.

A Word from 2022 Atlanta REALTORS® President Karen Hatcher:

On the surface, a prolonged sellers' market may seem like a cause for the real estate industry to celebrate, and most certainly for sellers, it undoubtedly means something different for prospective homebuyers, especially first-time and lower income buyers. "Homeownership is at risk for a lot of our citizens," Hatcher warns. "And it's not completely out of our hands. Real estate professionals, sellers, developers, and local governments all have a role to play in fostering balance in the market."

"We're heading toward two years of consistently recording decreases of 20% or more in our inventory levels for metro Atlanta," reports Atlanta REALTORS® Association President Karen Hatcher with February inventory dropping further below one month to 0.9 months of supply.

The median home sales price for the metro area is at $380,000 and Hatcher noted that prices have increased by double-digit percentages from the previous year consecutively since August 2020, emphasizing concern about exacerbating the affordable housing crisis that has become a nationwide issue.

As COVID-19 restrictions ease and the Spring market surges forward, "we're unlikely to see the shift we're looking for in these trends anytime soon," says Hatcher. Urging ARA members to step up to the plate, she issues a call to action. "Sellers are in the proverbial driver's seat, but there is a growing gap in understanding about how some of the newer options for selling homes will impact the market long term. We play a crucial role in educating sellers, and as advocates for homeownership and private property rights, we should also be taking a seat at any table where community planning and development is taking place. We need to ensure we're fiercely guarding the American dream."

Infographic   :   Download PDF   :   Press Release

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.

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. The Market Brief covers the following 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 14,000 members, Atlanta is the largest association 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, 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 (FMLS) is the premier data services provider for real estate professionals in Georgia. FMLS was founded in 1957 by a group of Brokers who wanted to share their listings and connect buyers and sellers.  Today FMLS is the largest MLS in Georgia & the 4th largest MLS in the United States, serving nearly 54,000 real estate Agents & Brokers.  For additional information or to start a discussion about how to partner with FMLS please contact join@fmls.com.

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