Courtesy of Georgia MLS.

Stable home prices and strong closing activity buoyed Atlanta’s homebuying market in May, Georgia MLS said, citing its monthly 12-county housing snapshot. 

This spring’s sales increased 7.6% from 5,194 in April to 5,590 in May. Compared to last year, May’s sales were up 0.6% from 5,556 transactions. 

However, units under contract (pending sales) fell 6.2% from 4,810 in April to 4,512 in May. Year over year, sales were down 27.9% from 6,259. 

The median sales price rose by 1% on a monthly basis and 2.1% year over year to $418,995. 

“May was a solid month for the Georgia housing market,” GAMLS Chief Marketing Officer John Ryan said. “Higher sales volume, increased closing activity and continued price stability demonstrate that buyers and sellers are still finding opportunities to successfully complete transactions.” 

Looking at the drop in pending sales, GAMLS cautioned that May’s sales pace was supported by transactions that were already in process rather than new buyer demand. 

“Growth in the second half of the year will depend on maintaining pricing discipline and successfully converting interested buyers into active contracts,” Ryan said. “The market remains resilient, but future momentum will be driven by the strength of the buyer pipeline.” 

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