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Atlanta REALTORS® Market Report for January

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Atlanta REALTORS® Market Report for January 2020

Increase in sales and demand paired with low inventory creates a rise in price of metro-Atlanta homes.

 

Demand: January residential sales were at 3,280, an increase of 7.8% 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 January was $273,000, an increase of 7.1% from last January. The average sales price was $336,000, up 6.0% from the previous year.

Supply: Atlanta area housing inventory totaled 11,483 units in January, a decrease of 10.9% from January 2019. New listings totaled 4,173, down 9.8% from January 2019 and up 48.4% from the previous month. The month’s supply over a 12-month period decreased to 2.3 months.

A Word from 2020 Atlanta REALTORS® President Jennifer Pino: Jennifer Pino, President of Atlanta REALTORS® Association said, “National economists have projected sales should increase modestly over 2020, but Metro Atlanta experienced a great start to 2020 with January sales reflecting a strong 7.8% increase. With demand remaining high and inventory levels continuing at historic lows, the median price has increased again by 7%. Interest rates are expected to remain low throughout 2020, which will help keep the monthly mortgage at an affordable level.”

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About The Author
Melissa Wakamo

When Melissa Wakamo began her real estate career in 2004, her goal was to focus on her immediate area and get to know her neighbors. "I've had a lot of fun over the years helping my neighbors sell their homes and helping newcomers become a part of our community." Melissa quickly became one of metro Atlanta’s top producing agents and consistently performed in the top 1% of all Atlanta agents. By 2009, Melissa’s real estate team, Red Robin Realtors, had grown to include several agents and support staff, providing exceptional service to buyers and sellers in Atlanta’s intown neighborhoods. In her role as Managing Broker, Melissa provides agent training, marketing and strategic oversight for Keller Knapp Realty and leads the Red Robin Realtors team of agents. "If you're thinking of buying or selling a home, or are considering a career as a real estate agent, let's talk soon!"