Atlanta REALTORS® Releases February 2022 Statistics on Housing Market
The Atlanta REALTORS® Market Brief examines sales, prices in 11-county metro area
Atlanta, GA (March 22, 2022) – RealEstateRama – Atlanta REALTORS® Association (ARA), the largest association of its kind in Georgia, released its February 2022 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
| February 2022 | February 2021 | % Change | |
| Total Home Sales | 5,073 | 5,338 | -5.0% |
| Median Sales Price | $380,000 | $313,000 | 21.4% |
| Average Sales Price | $445,000 | $378,000 | 17.7% |
Monthly Comparison
| February 2022 | January 2022 | % Change | |
| Total Home Sales | 5,073 | 4,403 | 15.2% |
| Median Sales Price | $380,000 | $375,000 | 1.3% |
| Average Sales Price | $445,000 | $437,000 | 1.8% |
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.
Largest Metro Counties Sales Comparison
| Total Units Sold | Median Sales
Price |
Average Sales Price | |
| Cobb | 862 | $390,500 | $440,500 |
| DeKalb | 771 | $342,000 | $408,000 |
| Fulton | 1,271 | $402,000 | $521,000 |
| Gwinnett | 894 | $377,500 | $412,000 |
FOR IMMEDIATE RELEASE
A Word from 2022 Atlanta REALTORS® President, Karen Hatcher:
On the surface, a prolonged sellers’ market may seem like 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. “Home ownership 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 home ownership 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.”
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. ###
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
FOR IMMEDIATE RELEASE
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 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.
CONTACTS:
Atlanta REALTORS® Association
Geilia Taylor, Community Engagement & Diversity Director
404-732-0650
Reggie McCrary, Chief Executive Officer
Office: 404.732.0601
