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Atlanta REALTORS® Market Report for October

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Atlanta REALTORS® Market Brief

October 2021 Edition

The October 2021 Market Brief, compiled by First Multiple Listing Service (FMLS), provides a regionally focused synopsis of monthly sales and home prices for residential properties in Metro Atlanta. This summary covers 11 counties: Cherokee, Clayton, Cobb, DeKalb, Douglas, Fayette, Forsyth, Fulton, Gwinnett, Paulding and Rockdale.

Demand: October residential sales were at 6,476, a decrease of 12.0% from the previous year.

Price: Average and median sales prices continue to outpace 2020’s figures, with positive gains. The median sales price in October was $370,000, an increase of 18.2% from last October. The average sales price was $438,500, up 16.6% from the previous year.

Supply: Atlanta area housing inventory totaled 8,822 units in October, a decrease of 28.3% from October 2020. New listings totaled 7,851, down 9.0% from October 2020 and down 2.2% from the previous month. The month’s supply over a 12-month period decreased to 1.3 months.

A Word from 2021 Atlanta REALTORS® President Cynthia Lippert:

“Overall, inventory levels have shown some stabilization in 2021, but a massive shortage continues, fueling price increases and slowing sales figures. And with new listings down 29% in September, the gap may continue to widen.,“ stated Cynthia Lippert, 2021 President of the Atlanta REALTORS® Association.

“October saw prices up 18% from last year, a notable uptick from September’s growth, shoring up predictions that prices will continue to rise significantly in 2022.,” says Lippert. “Although 2021 has kept us on our toes in many ways, don’t expect any last minute surprises from the market through the end of the year. If anything, we should prepare for more of the same: record low inventory levels, rising prices, and unrequited buyer demand, all of which continues to hold sales numbers down.”

 

The data in this report was compiled by First Multiple Listing Service (FMLS). For more information on details of this month’s report, please contact the Association at 404.250.0051.

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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 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 continues to provide exceptional real estate services to Atlanta buyers and sellers. "If you're thinking of buying or selling a home, or are considering a career as a real estate agent, let's talk soon!"