After several years of price growth, Atlanta’s sellers’ market appears to be losing no steam.
In just the past year, the median sales price of homes in the City of Atlanta has spiked by 16 percent, outpacing the national average by four times.
From April 2018 to this April, the median intown sales price climbed from $288,000 to $335,000, according to a new report by real estate company RE/MAX.
Nationwide, the typical median sales price was tabulated at $255,000, a 3.6-percent year-over-year increase.
In metro Atlanta, that figure was $250,000—up from $242,349 in 2018—which represents a 3.2-percent uptick.
Counties such as DeKalb, Fulton, and Clayton watched their median sales prices increase, too, at 8, 7, and 6 percent, respectively.
Interestingly, Cobb County saw median sales prices drop by one percentage point, from $282,000 to $280,000, per the report.
The metro Atlanta region also witnessed the sheer number of home sales decline by nearly 5 percent between this past April and the one prior.
In 2018, 8,592 homes were sold in metro Atlanta, compared to 2019’s 8,171.
“Greater Atlanta home sales continue to decline amid our very low inventory—down nearly 5 percent compared to April 2018,” said RE/MAX vice president Jeff LaGrange in a press release.
“Clayton County, once again, led all metro countries with the biggest drop percentage in home sales,” he added. “In fact, February 2018 was the last month the county didn’t have a double-digit decline in year-over-year transactions.”
RE/MAX researchers also determined metro Atlanta’s housing stock offers just a 2.2-month inventory, although that’s up from 2018’s tally of just two months.