The median sales price for an Atlanta home declined for the first time since 2012 in April, sliding 1.2% year over year to $405,000, the Atlanta REALTORS® Association said.  

At the same time, the association reported that home sales dropped 28.7% year over year to 4,661 transactions in April.      

Total housing inventory rose 14.2% from April 2022 to 9,007 units, while new listings totaled 6,212, representing a 26% decline year over year and a 12.8% decrease from March.     

“Despite the decline in price, the median days on market remains extremely low, decreasing to 11 in April, compared to 18 days in March, indicating that homes are selling even faster than before,” Atlanta REALTORS® Association President Michael Fischer said in a press release.

“With new listings falling by 26% in April, the data supports the trend of homeowners putting off selling their homes amidst economic uncertainty and higher interest rates making the market tougher to navigate,” Fischer added. “These market indicators may cause concern, but we are still seeing a competitive marketplace, high traffic on active listings, and strong value being placed on home ownership.” 

The Atlanta REALTORS® Market Brief, compiled by First Multiple Listing Service, covers 11 metro-Atlanta counties: Cherokee, Clayton, Cobb, DeKalb, Douglas, Forsyth, Fulton, Gwinnett, Fayette, Henry and Paulding.