Market Briefs

Atlanta REALTORS® Market Brief: January 2024

February 26, 2024

January Highlights

The January 2024 Market Brief, compiled by First Multiple Listing Service (FMLS), provides a regionally focused synopsis of monthly sales and home prices for residential properties in Metro Atlanta. This summary covers 11 counties: Cherokee, Clayton, Cobb, DeKalb, Douglas, Fayette, Forsyth, Fulton, Gwinnett, Paulding, and Rockdale.

Demand: January residential sales were at 2,974, an increase of 2.9% from the previous year.

Price: Average and median sales prices continue to outpace 2022’s figures, with positive gains. The median sales price in January was $400,000, an increase of 6.7% from last January. The average sales price was $481,500, up 9.1% from the previous year.

Supply: Atlanta area housing inventory totaled 10,380 units in January, an increase of 0.6% from January 2023. New listings totaled 6,214, up 7.2% from January 2023 and up 61.5% from the previous month. The month’s supply over a 12-month period increased to 2.3 months.

Michael FischerA Word from 2024 Atlanta REALTORS® President Kelly Guin Thrash:

"Reflecting on our recent market analysis, December revealed a familiar decline in sales, attributed to various factors including the impact of higher interest rates. However, the dawn of January paints a different picture with a notable surge in activity, sparking optimism for the months ahead," reports Atlanta REALTORS® Association President Kelly Guin Thrash.

"Though sales experienced a downturn, subtle price increases offer a glimmer of hope for a more stable growth trajectory in 2024. Yet, as inventory tightens and buyer hesitancy persists, challenges loom despite potential rate cuts on the horizon," says Thrash.

"In response, it's crucial for both sellers and buyers to recalibrate their expectations. Sellers should adopt objective pricing strategies and brace for longer listing periods, while buyers must seize current opportunities amidst evolving market conditions. Waiting for lower rates may invite heightened competition, potentially offsetting future savings," states Kelly.

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The data in this report was compiled by First Multiple Listing Service (FMLS). For more information on details of this month's report, please contact the Association at 404.250.0051.

About the PCBR Market Brief

The Pickens County Board of REALTORS® (PCBR)  Market Brief is compiled by First Multiple Listing Service (FMLS). For more information on details of this month's report, please contact the Board at 770.866.1397.

*Each month, the numbers reported for the previous month are updated to reflect additional recordings.

About the Pickens County Board of REALTORS®

The Pickens County Board serves as a central source of information for our members and our main focus are real estate education, the promotion of professionalism in our industry and representing our REALTOR® members with legislative initiatives to create positive change for the real estate community. Throughout its history, the Pickens County Board has exerted its influence in civic affairs in its capacity of representing a substantial segment of the business community across the Pickens area. The Board has contributed to various charities over the years by hosting fundraisers.

About First Multiple Listing Service

First Multiple Listing Service (FMLS) is the premier data services provider for real estate professionals in Georgia. FMLS was founded in 1957 by a group of Brokers who wanted to share their listings and connect buyers and sellers.  Today FMLS is the largest MLS in Georgia & the 4th largest MLS in the United States, serving nearly 54,000 real estate Agents & Brokers.  For additional information or to start a discussion about how to partner with FMLS please contact join@fmls.com.

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