Atlanta’s housing market remained tight in October, with total home sales sliding 6.2% from September to 6,476 and the median price of homes sold rising 3.4% to $370,000, Atlanta REALTORS Association reported.
Year over year, sales were down 12%, while the median sales price was up 18.2%, according to a press release.
Atlanta’s housing inventory totaled 8,822 units in October, a year-over-year decrease of 28.3%, while new listings slid 2.2% from September and 9% from October 2020 to 7,851, ARA reported, citing data from First Multiple Listing Service. The month’s supply over a 12-month period decreased to 1.3 months.
“Overall, inventory levels have shown some stabilization in 2021, but a massive shortage continues, fueling price increases and slowing sales figures,” said Cynthia Lippert, 2021 President of the ARA. “Although 2021 has kept us on our toes in many ways, don’t expect any last-minute surprises from the market through the end of the year. If anything, we should prepare for more of the same: record low inventory levels, rising prices and unrequited buyer demand, all of which continue to hold sales numbers down.”
The ARA report covers 11 metro-Atlanta counties: Cherokee, Clayton, Cobb, DeKalb, Douglas, Forsyth, Fulton, Gwinnett, Fayette, Henry and Paulding.