Atlanta continued to be a sellers market in November, with residential sales up 9.8% from the previous November, according to a report from the Atlanta Realtors Association.
The market analysis is based on First Multiple Listings’ Market Brief, which considers real estate statistics for the 11 counties in metropolitan Atlanta.
November sales were at 5,950, and the median sales price was $310,000, up 15.7% from November 2019. The average sales price was up 15% to $376,500. Housing inventory was down 42.3% to 10,485 units, and new listings dropped 5.8% from the same time last year for a total of 6,239.
“Recently, the National Association of Realtors recognized Metro Atlanta as one of the Top 10 markets in the U.S., 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,” Jennifer Pino, president of the Atlanta Realtors Association, in a statement. “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.”