Atlanta Market Update - April 2020

Atlanta Housing Market Update: April 2020

Below is the market update for April 2020 from the Atlanta REALTORS® Association. As expected the overall volume of real estate transactions decreased. However due to a drop in inventory, demand continued to outpace supply which resulted in continued price appreciation.

Atlanta REALTORS® Market Brief

April Edition

The Atlanta REALTORS® (ARA), the largest association of its kind in Georgia, released its April 2020 Market Brief on residential housing statistics in metro-Atlanta. The Market Brief, compiled by First Multiple Listing Service (FMLS), provides the only regionally focused synopsis of monthly sales and home prices for single family residential properties. Covers 11 counties: Cherokee, Clayton, Cobb, DeKalb, Douglas, Fayette, Forsyth, Fulton, Gwinnett, Paulding and Rockdale.

April Comments

Demand: April residential sales were at 4,071, a decrease of 25.8% from the previous year.

Price: Average and median sales prices continue to gain traction and outpace 2019’s figures, with positive gains. The median sales price in April was $305,000, an increase of 8.9% from last April. The average sales price was $366,000, up 5.5% from the previous year.

Supply: Atlanta area housing inventory totaled 11,994 units in April, a decrease of 13.4% from April, 2019. New listings totaled 3,716, down 32.2% from April, 2019 and down 18.3% from the previous month. The month’s supply over a 12-month period increased to 2.4 months.

A Word from 2020 Atlanta REALTORS® President Jennifer Pino:

"As expected, the housing market in Atlanta experienced a significant reduction in sales for April with a 25% decline from 2019. Overall, sales through the first four months of 2020 are still equal to the same time period last year," said Jennifer Pino, President of Atlanta REALTORS® Association. "Total sales in May should continue to reflect a reduction from 2019 but with the removal of the Shelter in Place Order at the end of April, activity has rebounded quickly and pending sales project a strong summer market."

Sales Price

Inventory

City Alpharetta Atlanta Austell Avalon Brookhaven Buckhead Chamblee Clayton College Park Decatur Doraville Douglasville Druid Hills Duluth Dunwoody East Point Kennesaw Lenox Mableton Norcross north atlanta North Decatur North Druid Hills North Metro Peachtree City Peachtree Corners Powder Springs Sandy Springs South Fulton Stone Mountain Union City Vinings Westside

Price Min $50,000 $100,000 $200,000 $300,000 $400,000 $500,000 $600,000 $700,000 $800,000 $900,000 $1,000,000 $1,500,000 $2,000,000 $3,000,000 $4,000,000 $5,000,000 $10,000,000

Price Max $100,000 $200,000 $300,000 $400,000 $500,000 $600,000 $700,000 $800,000 $900,000 $1,000,000 $1,500,000 $2,000,000 $3,000,000 $4,000,000 $5,000,000 $10,000,000

Min Beds 1 2 3 4 5 6+

Min Baths 1 2 3 4 5 6+

GO

The data in this report was compiled by First Multiple Listing Service (FMLS). For more details of this month's report, please click here.