The median sales price of Atlanta homes continued to rise in June, while the pace of sales slowed, the Atlanta REALTORS® Association reported. 

At $435,000, the median price was up 1.2% month over month and 17.6% year over year, while the 6,745 homes sold in the 11-county metro region represented a 1.9% monthly decline and a 19.6% yearly one. 

“Rising interest rates have decreased the numbers of buyers on the market, however sales in metro Atlanta still remain strong, with listings averaging only 6 days on market leading into the summer season,” ARA President Karen Hatcher said in a press release. “We are still experiencing double-digit increases in the median price, but the increases are expected to begin to slow in the future due to rising interest rates. The demand is still strong, so we expect to continue to have buyers who can afford to purchase fueling the market.” 

Housing inventory totaled 10,604 units in June, up 30.5% year over year, while new listings hit 10,063, up 12.3% from May and 5.5% from June 2021. The 12-month supply of homes rose to 1.6 months from 1.2 months in May. 

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