Market Briefs

Atlanta REALTORS® Market Brief: October 2020

November 17, 2020

October Highlights

Demand: October residential sales were at 6,051, a decrease of 3.3% 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 October was $315,000, an increase of 19.8% from last October. The average sales price was $375,500, up 16.8% from the previous year.

Supply: Atlanta area housing inventory totaled 12,291 units in October, a decrease of 36.9% from October 2019. New listings totaled 8,122, down 9.5% from October 2019 and down 4.7% from the previous month. The month’s supply over a 12-month period decreased to 2.0 months.

A Word from 2020 Atlanta REALTORS® President Jennifer Pino: 
“The Metro Atlanta market continues to see strong activity as a result of extremely low interest rates and changing buyer needs", reported Jennifer Pino, President of the Atlanta REALTORS® Association. "As a result of high demand and the ongoing issue of low inventory, the average sales price for the area has increased by 16.8% to over $375,000.”

"As we move into the winter months, interest rates do not appear to be changing and we expect that inventory will remain at these low levels. With demand projected to remain strong, these factors should continue to put upward pressure on the average sales prices over the next few months."

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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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