Courtesy of Georgia MLS.

The pace of home sales in the Atlanta market kicked into a higher gear in March, posting gains of more than 20% compared to February, Georgia MLS (GAMLS) said, citing its 12-county Housing Market Snapshot. Year over year, however, sales were down.   

Nevertheless, “with mortgage rates stabilizing and the frenzy of past years settling, this is shaping up to be a year of opportunity for those looking to enter the Atlanta housing market,” the MLS said. 

By units, sales were up 22.3% month over month but down 6% year over year, at 4,612. By dollar amount, sales were up 25.8% month over month but down 5.7% year over year, at $2.3 billion.   

The median-sales price ticked up 3.8% month over month but slid 0.3% year over year to $402,000.   

New listings surged 22% month over month to 9,738, which represents a 20% annual gain. Active listings, meanwhile, were up 6.6% on a monthly basis and 48% on a yearly one, at 18,775 properties.   

“Certain submarkets — especially to the north — remain hotbeds of activity, particularly at specific price points,” GAMLS said in the Snapshot. “But overall, the stats underscore a shift: Buyers are negotiating more, and sellers are adjusting expectations.” 

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