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Atlanta home prices post slight monthly decline in September

by John Yellig

Courtesy of Atlanta REALTORS Association and First Multiple Listing Service.

Atlanta’s housing market saw a slight cooling in September, with total home sales sliding 11.3% from August to 6,671 and the median price of homes sold dipping 0.3% to $359,000, Atlanta REALTORS Association reported.

Year over year, sales were down 10.1%, while the median sales price was up 15.8%, according to a press release.

New listings fell 8.9% month over month to 7,998, while housing inventory fell 27.8% relative to September 2020, ARA reported, citing data from First Multiple Listing Service.

“Anecdotally speaking, the market is beginning to shift slightly,” said Cynthia Lippert, 2021 President of the ARA. “While declines in sales volume are likely to be mostly due to the lack of inventory, a slight cooling of the meteoric price increases we saw in early summer (14% increase in median home price for August and September vs. nearly 30% in May) indicate that buyers may be pulling back. They’re either priced out or deciding to wait it out.” 

The ARA report covers 11 metro-Atlanta counties: Cherokee, Clayton, Cobb, DeKalb, Douglas, Forsyth, Fulton, Gwinnett, Fayette, Henry and Paulding. 

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