Atlanta REALTORS® Releases October 2020 Statistics on Housing Market
he Atlanta REALTORS® Market Brief examines sales, prices in 11-county metro area
Atlanta, GA (November 16, 2020) – RealEstateRama – Atlanta REALTORS® Association (ARA), the largest association of its kind in Georgia, released its October 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
|
Oct 2020 |
Oct 2019 |
% Change |
|
|
Total Home Sales |
6,051 |
6,258 |
-3.3% |
|
Median Sales Price |
$315,000 |
$263,000 |
19.8% |
|
Average Sales Price |
$375,500 |
$321,500 |
16.8% |
Monthly Comparison
|
Oct 2020 |
Sept 2020 |
% Change |
|
|
Total Home Sales |
6,051 |
7,240 |
-16.4% |
|
Median Sales Price |
$315,000 |
$310,000 |
1.6% |
|
Average Sales Price |
$375,500 |
$376,000 |
-0.1% |
Demand: October residential sales were at 6,909, an increase of 12.9% 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 October was $311,000, an increase of 15.2% from last October. The average sales price was $376,500, up 15.3% from the previous year.
Supply: Atlanta area housing inventory totaled 12,418 units in October, a decrease of 36.6% from October 2019. New listings totaled 8,465, down 4.2% from October 2019 and down 5.2% from the previous month. The month’s supply over a 12-month period decreased to 2.0 months.
Largest Metro Counties Sales Comparison
|
Total Units Sold |
Median Sales Price |
Average Sales Price |
|
|
Cobb |
1,202 |
$320,000 |
$360,500 |
|
DeKalb |
939 |
$325,000 |
$376,000 |
|
Fulton |
1,637 |
$370,000 |
$488,500 |
|
Gwinnett |
1,321 |
$286,000 |
$316,500 |
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.”
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.
###
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
