Demand: December residential sales were at 6,635, an increase of 6.1% 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 December was $310,000, an increase of 12.1% from last December. The average sales price was $377,500, up 12.4% from the previous year.
Supply: Atlanta area housing inventory totaled 8,806 units in December, a decrease of 44.8% from December 2019. New listings totaled 5,219, up 0.6% from December 2019 and down 16.8% from the previous month. The month’s supply over a 12-month period decreased to 1.4 months.
A Word from 2021 Atlanta REALTORS® President Cynthia Lippert:
“December sales continued at a robust pace for Metro Atlanta, outpacing early predictions, and signs point to this pace continuing into 2021,” stated Cynthia Lippert, 2021 President of the Atlanta REALTORS® Association. “Interest rates remain low and market conditions still remain favorable, bolstering expectations for continued growth.”
“Inventory remains a concern as the supply has declined further to 1.3 months of availability. In an extreme seller’s market, preparation is absolutely paramount for buyers facing a strong likelihood of multiple bid competition across many price points. Agents should encourage their clients to have approved financing in place and be ready to submit an offer as soon as a property becomes available.”