Atlanta REALTORS® Releases September 2023 Statistics on Housing Market
The Atlanta REALTORS® Market Brief examines sales, prices in 11-county metro area
Atlanta, GA (October 24, 2023) – RealEstateRama – Atlanta REALTORS® Association (ARA), the largest association of its kind in Georgia, released its September 2023 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
| September 2023 | September 2022 | % Change | |
| Total Home Sales | 4,371 | 5,481 | -20.3% |
| Median Sales Price | $410,000 | $400,000 | 2.5% |
| Average Sales Price | $502,000 | $477,500 | 5.1% |
Previous Monthly Comparison
| September 2023 | August 2023 | % Change | |
| Total Home Sales | 4,371 | 5,190 | -15.8% |
| Median Sales Price | $410,000 | $425,000 | -3.5% |
| Average Sales Price | $502,000 | $515,500 | -2.6% |
Demand: September residential sales were at 4,371, a decrease of 20.3% from the previous year.
Price: Average and median sales prices continue to outpace 2022’s figures, with positive gains. The median sales price in September was $410,000, an increase of 2.5% from last September. The average sales price was $502,000, up 5.1% from the previous year.
Supply: Atlanta area housing inventory totaled 11,252 units in September, a decrease of 16.4% from September 2022. New listings totaled 6,422, down 17.0% from September 2022 and down 7.8% from the previous month. The month’s supply over a 12-month period increased to 2.4 months.
Largest Metro Counties Sales Comparison
| Cobb | 707 | $416,000 | $487,500 |
| DeKalb | 617 | $360,000 | $463,000 |
| Fulton | 1,064 | $430,000 | $593,000 |
| Gwinnett | 845 | $425,000 | $478,000 |
A Word from 2023 Atlanta REALTORS® President, Michael Fischer:
“The metro-Atlanta housing market has seen the year-over-year median price and average price appreciation shrink over the last several months, to be more in line with historical averages,” reports Atlanta REALTORS® Association President Michael Fischer. “This counters the rapid surges experienced in recent years.”
“In another sign that our market is slowly moving back to more normal conditions, the month’s supply of homes for sale has increased to 2.4 months inventory,” says Fischer. “Historically, 6 months of supply has been seen as the balance between a sellers and buyers market so despite the gains we are still a long way from reaching that balance.”
“The continued strong demand for housing in Atlanta is reflected by the median days on the market which has remained consistent at 14 days this month,” stated Fischer.
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, Fayette, Forsyth, Fulton, Gwinnett, Paulding, and Rockdale. 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 60% 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:
Geilia Taylor, Community Engagement & Diversity Director
404-732-0650
Reggie McCrary, Chief Executive Officer
Office: 404.732.0601
