Atlanta REALTORS® Releases November 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 November 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
|
Nov 2020 |
Nov 2019 |
% Change |
|
|
Total Home Sales |
5,950 |
5,420 |
9.8% |
|
Median Sales Price |
$310,000 |
$268,000 |
15.7% |
|
Average Sales Price |
$376,500 |
$321,500 |
15.0% |
Monthly Comparison
|
Nov 2020 |
Oct 2020 |
% Change |
|
|
Total Home Sales |
5,950 |
7,205 |
-76.4% |
|
Median Sales Price |
$310,000 |
$314,000 |
-1.3% |
|
Average Sales Price |
$376,500 |
$375,500 |
0.3% |
Demand: November residential sales were at 5,950, an increase of 9.8% 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 November was $310,000, an increase of 15.7% from last November. The average sales price was $376,500, up 15.0% from the previous year.
Supply: Atlanta area housing inventory totaled 10,485 units in November, a decrease of 42.3% from November 2019. New listings totaled 6,239, down 5.8% from November 2019 and down 27.1% from the previous month. The month’s supply over a 12-month period decreased to 1.6 months.
Largest Metro Counties Sales Comparison
|
Total Units Sold |
Median Sales Price |
Average Sales Price |
|
|
Cobb |
1,076 |
$320,500 |
$358,000 |
|
DeKalb |
816 |
$296,000 |
$368,500 |
|
Fulton |
1,366 |
$364,000 |
$484,500 |
|
Gwinnett |
1,170 |
$290,000 |
$334,500 |
A Word from 2020 Atlanta REALTORS® President Jennifer Pino:
“Recently, the National Association of REALTORS® recognized Metro Atlanta as one of the Top 10 markets in the US, and November’s activity certainly supports this recognition. Despite the available inventory declining to now only 1.6 months of supply, sales remain strong as closings are up nearly 10% over 2019,” reported Jennifer Pino, President of the Atlanta REALTORS® Association. “In this market, it is extremely important for prospective buyers to secure financing in advance of the home search process as many properties are receiving multiple offers and do not remain on the market for very long.”
“Interest rates are forecasted to remain relatively flat for 2021 and with inventory remaining low, we expect this strong market will continue well into 2021.”
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
