Atlanta can become a buyer’s real estate market if the supply increases.” –Marco Santarelli
significant reduction of 25.8 percent in sales for April as compared to the previous year’s numbers. The housing market in Atlanta experienced a 25.8 percent decline in sales for April as compared to last year, according to the report from Atlanta REALTORS® (ARA). New listings dropped by 32.2 percent compared to April 2019. April’s new listings decreased more than 18 percent compared to March’s new listings as sellers decided to back out in this crisis. Housing inventory in the metro Atlanta area housing market decreased by 13.4 percent from April 2019. As of now, the Metro Atlanta hous- ing market has recovered smoothly. Despite unemployment and uncer- tainty, the Atlanta residential real estate market performed exceptional- ly well in 2020. Home prices skyrock- eted in 2020, and the trend continued this year as well. December 2020 home sales continued at a robust pace for Metro Atlanta, outpacing early predictions, and signs pointing to that pace continuing into 2021.
The residential sales were at 6,635, an increase of 6.1 percent from the previous year. The average and median sales prices continued to rise and outpace the figures for 2019. As we write this, the median price of a home sold in the 11-county area in September 2021 month was $359,000. According to the Atlanta Realtors Association, this price is 15.8 percent higher than the median price in September 2020. Record-low interest rates and are enticing buyers into the market and giving them more buying power. Even as home values continue to rise, low mortgage rates give buyers more buying power. It’s not only low-inter- est rates pushing up prices to record highs. A lack of homes for sale is a big part of it too. 2021 will be defined by low-inter - est rates and low inventory, a perfect
storm that will continue to push home prices higher. While prices continue to rise slowly, remaining stable at around 14 percent in August and September, inventory just cannot maintain pace. On that front, invento- ry appears to be stabilizing, typical- ly hovering at slightly more than a month’s supply. Overall, the Metro Atlanta housing market remains competitive, although not as fiercely so as it was a few months ago. The market is beginning to shift slightly. Buyers may be reserving their purchases during the winter. A year ago, metro Atlanta’s sup- ply matched a historically low 1.8 months, and it has continued to decrease. By May 2021, inventories represented only one month of sup- ply. However, in September 2021, this increased to 1.3 months. That is still very low, but the shift in the housing
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