Atlanta REALTORS® Releases March 2020 Statistics on Housing Market
The Atlanta REALTORS® Market Brief examines sales, prices in 11-county metro area
Atlanta, GA – RealEstateRama – Atlanta REALTORS® Association (ARA), the largest association of its kind in Georgia, released its March 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
|
March, 2020 |
March, 2019 |
% Change |
|
|
Total Home Sales |
4,848 |
5,046 |
-3.9% |
|
Median Sales Price |
$293,000 |
$275,000 |
6.5% |
|
Average Sales Price |
$354,000 |
$341,000 |
3.8% |
Monthly Comparison
|
March, 2020 |
February, 2020 |
% Change |
|
|
Total Home Sales |
4,848 |
4,076 |
18.9% |
|
Median Sales Price |
$293,000 |
$278,000 |
5.4% |
|
Average Sales Price |
$354,000 |
$337,000 |
5.0% |
Demand: March residential sales were at 4,848, a decrease of 3.9% 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 March was $293,000, an increase of 6.5% from last March. The average sales price was $354,000, up 3.8% from the previous year.
Supply: Atlanta area housing inventory totaled 11,782 units in March, a decrease of 9.7% from March, 2019. New listings totaled 4,551, down 16.6% from March, 2019 and up 24.1% from the previous month. The month’s supply over a 12-month period increased to 2.3 months.
Largest Metro Counties Sales Comparison
|
Total Units Sold |
Median Sales Price |
Average Sales Price |
|
|
Cobb |
783 |
$320,000 |
$358,000 |
|
DeKalb |
621 |
$282,000 |
$362,000 |
|
Fulton |
896 |
$383,000 |
$492,000 |
|
Gwinnett |
1,023 |
$280,000 |
$307,000 |
A Word from 2020 Atlanta REALTORS® President Jennifer Pino:
“While the Metro Atlanta area, and our country, experienced significant changes over the past month, the housing market in Atlanta remained relatively stable compared to previous years,” said Jennifer Pino, President of Atlanta REALTORS® Association. “The March sales reflect transactions that were in process as the pandemic began to overtake our country and demonstrate some of the efforts made by our members to assist their clients all the way to closing through this extraordinary time.”
“While agents would traditionally be preparing for a strong spring market, we expect the April numbers will reflect a slowdown as a result of this crisis.”
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
Joel McRae
Digital Marketing Specialist
404.732.0613 :
Atlanta REALTORS® Association
5784 Lake Forrest Dr. : Atlanta, GA 30328
404.250.0051 : www.atlantarealtors.com
