Metro Atlanta Market Trends

Prices in 2021 have skyrocketed, competition has been fierce, and the low supply of homes ensured many buyers were paying top dollar, and mortgage rates were near rock bottom. As housing inventory starts to recover, a cooling off period will begin, with more homes on the market means less competition per home and more options for buyers. Months of inventory has remained steady at 1.1 months over the last two months based on closed sales and averaging 16 days on market.

Metro Atlanta and surrounding areas homes for sale in August were up .9% compared to last month and down 30.6% from last year. Homes placed under contract in August were up 8.1% compared to the previous month and down 1.4% compared to last year. Homes sold were down 5.3% compared to July, and down 7.1% year over year. Average sold price of $408,000.

Real estate is local and the best way to obtain your local market trends is to contact your trusted Berkshire Hathaway HomeServices Georgia Properties. Call Stephanie today