Courtesy of Georgia MLS.

The pace of home sales in the Atlanta area plunged from December to January while new listings posted significant gains, closely mirroring trends seen a year ago, Georgia MLS said, citing its 12-county Housing Market Snapshot.  

By units, sales were down 31.1% month over month and 0.8% year over year, at 3,138, compared to 4,552 homes sold in December and 3,163 homes sold in January 2024. By dollar amount, sales were down 33.1% month over month and up 3.1% year over year, at $1.49 billion. 

New listings surged 47.8% month over month and 19.3% year over year to 7,961. Active listings, meanwhile, were up 2% on a monthly basis and 51.3% on a yearly one, at 16,819 listings. 

“One of the biggest uncertainties remains interest rates,” GAMLS said. “The Federal Reserve has signaled that, for now, rate cuts are not on the horizon, leaving many buyers and sellers in a holding pattern. A potential rate reduction could unlock pent-up demand, bringing renewed momentum to the market. 

“Meanwhile, new construction is beginning to gain traction, offering more options for buyers and contributing to inventory levels. However, home prices remain firm, with no significant declines expected in the foreseeable future.” 

The median sales price of $384,495 represented a 3.9% dip from December’s $400,000 level and a 0.1% slide from the $385,000 price of January 2024. 

Georgia MLS’ 12-county report includes Cherokee, Clayton, Cobb, Dekalb, Douglas, Fayette, Forsyth, Fulton, Gwinnett, Henry, Paulding and Rockdale counties.