The median sales price for an Atlanta home remained in positive territory for the second month in a row in August, jumping 4.7% year over year to $425,000, the Atlanta REALTORS® Association revealed in its latest Market Brief.
At the same time, home sales slid 15% year over year to 5,088 transactions, the smallest annual decline of 2023.
Total housing inventory fell 16.5% from August 2022 to 10,607 units, while new listings totaled 6,896, representing a 15.2% decline year over year and a 0.4% increase from July. Months’ supply, meanwhile, rose to 2.3 months from 2.1 months.
“In the face of elevated interest rates, the demand for housing in Atlanta remains strong with properties continuing to sell quickly,” Atlanta REALTORS® Association President Michael Fischer said in a press release. “This resilience reflects the enduring appeal of the metro-Atlanta housing market, with buyers undeterred by numerous challenges in the marketplace.”
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.