Atlanta Market Update - September 2020
The Atlanta Real Estate Market in September continued the strong activity observed in August 2020. Despite all of the uncertainty in the country, September has showed that the fundamentals are still in place to support a strong Atlanta housing market. Record low mortgage rates have certainly driven demand along with a renewed optimism in the economy. Strong demand along with low (and decreasing) supply has resulted in houses flying off the market, bidding wars and continued price appreciation. Although prices continue to rise in Metro Atlanta and the surrounding suburbs, the extremely low interest rates have helped counterbalance the increase in prices. Without an increase in inventory it will be interesting to see where the market goes next.
Here’s a summary of some key metrics.
Median Sale Price: Increased 14.5% to $355,000 in Atlanta. +14.9% across the Greater Atlanta Area.
Monthly Supply: Decreased 19.5% to 3.3 months in Atlanta. -40.6% (1.9 months) across the Greater Atlanta Area. A normal/balanced market has 6 months supply.
Sales Price / List Price: Increased to 98.1% in Atlanta. 99.2% across the Greater Atlanta . Most buyers are paying full or close to full price.
Days On Market: Decreased 39.3% to 17 days in Atlanta. 12 days across Georgia. Houses are selling fast!
Sales Price
Supply
Sales Price / List Price
Days On Market
