Atlanta ranked No. 5 among the 52 largest U.S. cities for the number of homes sold in September, despite a 5.9% year-over-year decline in transactions, according to the most recent RE/MAX National Housing Report.    

Closed sales fell to 5,824 transactions from 6,190 in September 2023. New York, Chicago,  Dallas and Houston took the top four spots, respectively.    

Atlanta also ranked fifth in the U.S. for active inventory, which surged 40% year over year to 25,125. Miami, Houston, Dallas and New York took the top spots, respectively.    

Meanwhile, the median sales price in Atlanta rose 0.9% on a monthly basis and 2.6% on a yearly one to $400,000. The median sales price for all metros was $429,000, down 1.4% from August but up 4.6% from September 202

Months’ supply of inventory in Atlanta was up 16.1% month over month and 39.1% year over year, at 3.9 months. Nationally, it rose from 2.4 months in August to 2.7 months in September.

“While inventory has trended up, it is still very low, and there simply is not enough inventory under $500,000,” said Kristen Jones, broker/owner of RE/MAX Around Atlanta. “Sales are up in some price points — especially over $500,000 — but I think rates need to drop to really see some change.”