Home sales in the greater Atlanta area were down 3.5 percent in August, compared to the previous year, according to RE/MAX’s monthly housing report.
Those numbers also are down from the previous month, which recorded 9,635 sales as opposed to the 8,720 in August 2019.
Homes are staying on the market longer, too, averaging 42 days in August, compared to 40 days the previous month and 39 in August 2018.
It’s not all gloom, though; homes sold for more in August 2019, with the median home price at $250,308. That’s down almost $10,000 from July but up $15,000 from August of last year.
Torrence Ford, owner of RE/MAX Premier, noted that while the market is strong overall, a notable shift is taking place.
“Atlanta continues to be a hot real estate market due to strong employment opportunities. The market is shifting, however, to favor buyers,” he said. “Agents are seeing more sellers willing to offer concessions. New construction is also a very popular option right now with buyers, with many builders offering more flexible options. These factors, combined with low interest rates, makes the current market an excellent time for buyers.”