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

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