The median sales price for an Atlanta home declined for the third month in a row in June, dipping 0.9% year over year to $428,000, the Atlanta REALTORS® Association said.
At the same time, the association reported that home sales slid 23.3% year over year to 5,338 transactions.
Total housing inventory fell 11.5% from June 2022 to 9,998 units, while new listings totaled 7,601, representing a 26.4% decline year over year and a 5.3% increase from May. Supply, meanwhile, rose to 2.1 months.
“While the number of transactions reflects a decrease from the previous year, the total inventory has actually declined and remains significantly lower than what is considered normal,” Atlanta REALTORS® Association President Michael Fischer said in a press release. “Despite high interest rates, the market continues to exhibit resilience. Buyers face stiff competition in securing properties, and we’re seeing evidence of more multiple offers, while home prices remain strong.”
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. 